custodial costs

[voltage]

advised to hold shares on US and UK market in custodial arrangement, many negatives in own title. Brokers charge shas now gone from $10 per company to $50 per company. What do others do here?

[Snoopy]

advised to hold shares on US and UK market in custodial arrangement, many negatives in own title. Brokers charge has now gone from $10 per company to $50 per company. What do others do here?


I think you can hold US and UK shares in your own name. Well I know so because I do. However i believe that selling can get messy if you do this. However, I have never sold so have avoided this particular pitfall so far. Perhaps one day I will figure out how to sell and you will have your answer Voltage?

I guess one answer is to get your exposure to overseas markets by investing in NZ companies that only sell into overseas markets (like FPH and SCT).

SNOOPY

[percy]

I think you can hold US and UK shares in your own name. Well I know so because I do. However i believe that selling can get messy if you do this. However, I have never sold so have avoided this particular pitfall so far. Perhaps one day I will figure out how to sell and you will have your answer Voltage?

I guess one answer is to get your exposure to overseas markets by investing in NZ companies that only sell into overseas markets (like FPH and SCT).

SNOOPY
You can hold shares in your own name.should you wish to sell I had to waite for my broker to send share certificate to us or Uk selling broker.They would not sell until they had certs in hand.
Then you had a long waite for settlement in Uk.So approx 1 month before you received money.Since 9/11 yanks have made rules harder and my broker reckoned should I die my estate would waite for years to get to get sorted.I had a hell of a time with one share registry who cancelled my head shares when I converted some options.After a long time they found certificate and sent to me .great, had cancelled stamped on it.broker transfered into their name to sell for me.I hold Aussie and NZ shares in my name otherwise you can miss out on issues.I brought Marlin Global at issue and have made no dough,however I am happy to have world shares via them.One thing was they issued fantastic share certs.Had some great companies in us;ORB,HEI,CSCO,AMGN,SUN,TWX and did dough on DVI (yes a finance company)IN the UK I had celltech,skypharma,and MICE.Sold out in2004 to chase dividend paying NZ companies.fees were high as you paid double brokerage.A mate of mine still trades in US ,he has shares registered in broker account.That would be the challenge I would expect getting an accont set up with US broker.I allways got tax forms and sent them back but never heard anymore.

[voltage]

thanks snoopy and percy, many disadvantages to holding shares directly outside NZ and aussie. National bank use to offer free custodial on online sharetrading - that has gone. ASB offers it for a total of 250 per year. Craigs $50 per script.

[AliceSaville]

advised to hold shares on US and UK market in custodial arrangement, many negatives in own title. Brokers charge shas now gone from $10 per company to $50 per company. What do others do here?

Hi voltage,

Direct Broking offers an online US/UK Custodial Trading service to clients.

US and UK Administration fees:
0.5% per annum, calculated daily on the value of your total holdings and charged following the end of each month. Note: that's 0.5% for US and 0.5% for UK. Minimum $60NZD charge for each 6 month period.

See our website for more details (https://www.directbroking.co.nz/DirectTrade/static/ourrates.aspx#Fm4) or give us a call on 0800 805 777 to discuss further.

Kind regards,
Alice

[voltage]

.5% seems to be going rate