Journey To GS AmEx Plat

I don’t think I will have $10 million anytime soon to get invited to invest with Goldman Sachs Private Wealth Management. I will need this relationship to get the GS AmEx Platinum to compete my collection of every Co-Branded AmEx Platinum card. Currently I have the: Morgan Stanley, Charles Schwab, Mercedes-Benz, and Ameriprise. This in addition to my Personal and Business Platnum Cards each of which get $200 on an airline, and the $550 ($450 biz) annual fee waived for each. All the personal Plat cards also come with $200 Uber credit a year each!

So here is the plan, what if I could own a share of GS and exploit the shareholder services to get an invite to GS AmEx Plat? I have several readers sign up for a personal GS Bank Saving account, but none have reported any success in getting the GS Platinum Card invite.

Not to repeat their strategy, I decided to go my own way which is that of the GS shareholder relationship. Now what would be an even better churn is to use MR points from my other churns to get that one share for free. Right now for $440 you can go to giveashare.com buy one share framed online:

Another company called unique stock has the audacity to ask for another $40 on top of share price and a $49 transfer fee just to get a genuine certificate produced. Apparently the SEC forces these companies to charge twice the value of stock to make sure they don’t act as a brokerage firm. This $440 seems pretty steep since GS is trading for around $230 right now.

To save a few bucks, I thought about using Robinhood to buy the stock, but their brokerage house will not allow external transfers. I decided to transfer some MR points with Charles Schwab, and getting the certificate issued for $25 via transfer to Computershare as the holding company. I just used the invest with rewards option on my Schwab account.

I moved enough MR for the $4.95 commission fee as well as one share of the GS ($229.90 at the time), each MR is worth 1.25 cents.

I then put the order in and the one share was mine!

In this case it cost me $234.85 for the one share plus trade fee or 18,788 MR points at 1.25 cents per point, which is what I earned for adding 4 AU accounts and have each spend $500 in a 90 day period. Essentially the share was free on my end. Once the stock was bought I went ahead and submitted a signed and dated letter of instruction to Schwab via their secure messaging service. In the letter I wrote out:

1. Schwab account name and number
2. Stock name(s) or symbols
3. exact number of shares to be transferred
4. any control # or reference number at the receiving firm
5. Contact name and phone number at the transfer agent (if available)
6. Any DTC number provided
I am still awaiting the stocks to transfer since the transition has not settled yet. I had an existing account with Computershare, and the shares from other companies I have done this with show up in about two weeks. I can then request a stock certificate for $25 (payable by credit card) which will take another week to show via USPS. Here is the one share of WW Granger I had done the same way:
Now it is not required to get a physical certificate to be a registered shareholder, but why the hell not? It makes for a nice piece of artwork, and I see this technique equivalent to the old credit card in the ice block trick to prevent panic moves. A physical certificate forces me to become a literal buy and hold investor. Just to sell the damn thing I would have to sign the back, get a medallion stamp, and deposit it to a brokerage house just to sell it a week later. The intentional barriers to selling it on a whim as if it was on Robinhood will mean I can hold on to this for many years and forget about it. Hopefully my grandkids can sell it to buy a 6 pack of beer when they go through my old junk and find it.
As of today that one share is up $7.29 far exceeding the $4.95 commission paid! I am pretty happy with my use of 20k MR points.
Next step, calling shareholder services to get the invite!
-Derp
Update:
The stock got moved to Computershare and it was only $25 to get a paper certificate. The closing price of GS on Friday 06 October was $246.02. I paid $229.90 on 19 Sept 2017, so it only cost me $8.80 to get a fancy paper cert of GS! I went ahead and put the order in today (10 October 2017).
Will let you know once it get framed!

One Response to Journey To GS AmEx Plat

  1. Ah, a fellow card collector. Any luck? I’ve also been looking for a way to get the GS Plat. Tried calling GS Bank, but that does not qualify you for an invitation. There was an internal number posted on flyertalk I think, not sure what their actual qualifications are. I doubt being a shareholder is enough, but do let us know.

    Also on my list are the MS Plat and JPM Reserve. Just opened an account with MS and waiting for my Plat application. My process ended up being different than yours(no fees!). Feel free to shoot me an email if you want to talk shop.

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