Selling shares

[SBQ]

How would they transfer them to ASB? They don't have them to transfer. Share registries manage ownership of shares not the brokers.

I mean have Jarden to do the paperwork transfer (updating the registry). In order to milk as much fees out of a simple transaction, they treat it as you've removed (or sold) the shares out of your account because at the end of the day, it will no longer be in the account, and since the account portfolio value drops, so does their account management fees.

[777]

I mean have Jarden to do the paperwork transfer (updating the registry). In order to milk as much fees out of a simple transaction, they treat it as you've removed (or sold) the shares out of your account because at the end of the day, it will no longer be in the account, and since the account portfolio value drops, so does their account management fees.

The shares are registered in shareholders name with the share registry, full stop. You can use any broker to sell them. It is no where near as complicated as you are posting.