How Do You Cash Stocks Purchased at Quick and Reilly?


Quick Answer

Quick and Reilly customer accounts were converted to the National Financial Services clearing platform in 2004, and account numbers were changed at that time in association with Quick and Reilly's merger with Banc of America Investment Services, according to PR Newswire. To find out how to cash out Quick and Reilly stocks, visit NationalFinancial.Fidelity.com. National Financial Services manages stock accounts for several broker/dealer and investment firms, according to Bloomberg.

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Full Answer

Quick and Reilly was founded in 1974 and grew to become one of the original discount brokerage firms in the United States, according to Funding Universe. The firm had its own clearing platform subsidiary, U.S. Clearing Corporation. Quick and Reilly was acquired by Boston-based Fleet Financial Group in 1997, according to the Seattle Times, and then Bank of America acquired the firm as part of Fleet in 2004. Banc of America Investment Services, Inc., was merged into Merrill, Lynch, Pierce, Fenner and Smith, which is headquartered in Charlotte, North Carolina, in 2009, explains Bloomberg.

The conversion of Quick and Reilly accounts to the National Financial Services LLC clearing platform, including account number changes, was scheduled to begin in 2005, according to PR Newswire. Quick and Reilly had more than $44.3 billion in customer assets at the time it was acquired by Bank of America.

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