Think I have been given the boot by my broker that appears to have hit the financial fan.
Need to find a new medium to use and am considering having a go at it alone and online.
Is Direct Brokering the only choice?
Do they give you research for using their service?
Any pointers?
What happens to my current portfolio? Should I try to tidy the lack of love that has inflicted it up myself - ie sell the scrapy low value dogs? eg TEL worth less than $1,000.
Thanks
There's also ASB Securities.
Hi krusty,
Can't tell you which the "best" one is, but I use ASB Securities and from day one (3yrs ago) have found it very user friendly for my inexperienced needs. You don't have to join to use their superficial research, just look up the name, but obviously there is more available if you become a client, although a common complaint with them is the lack of recommendation material. That said, there are plenty of sites to peruse for research.
I would say that what happens to your current portfolio will be the same as what happened to mine when I parted ways with my "advisor" a few years ago, you will take control of it, and contemplate for a while before trying to tidy the lack of love within it.
I actually let my original portfolio sit and percolate for some time, whilst I started a second one and a huge learning curve. It's only in the last year I have started to tweak the original portfolio, and then not too much because I'm reasonably satisfied with it. As for the second one, I'm now beginning to step outside my comfort zone and buy small numbers of a few stocks which for me is another learning curve, bringing confidence along with it.
And never, ever, underestimate the help available on this site! I imagine you will get far more sage advice than I have offered.
Good luck.
Hi krusty,
As far as I'm aware there are only two DIY brokers in NZ. These have already been mentioned. ASB Securities and Direct Broking. They both offer similar services at similar rates to my understanding. I went with Direct Broking and have never had a problem. Also they have a dedicated thread here where you can ask Alice from DB questions which is pretty cool: http://www.sharetrader.co.nz/showthr...direct+broking
Ultimately I am sure both providers would be sufficient for DIY so it comes down to personal preference... do you like red or yellow backgrounds? :p:D
Gudday Krusty.
You wouldnt be Captain Crusty out of Gulf Harbour by any chance?
I use DB.
Im happy with them other than the lack of a stop loss facility when trading on the ASX
Thanks for the advice. I liked the research that was generated by ABN Amro (Craigs Investment Partners) that I sometimes saw. Would Direct Broking and ASB Securities provide something similar - normally a few pages in length for each share? Would I get a new IBN/SRN number or whatever they call it?
Krusty hails from further downunder
Where do you go for research on the shares that interest you?
Krusty,
Right here on ST would be a good place for research on shares - just use the advanced search box top right of page. Beyond that, how long have you got to research a share? Just google one and take your pick - company reports etc etc.
And good advice elsewhere here is to visit sharechat.co.nz
Hi Krusty
In relation to this subject I received the following from DB about access they provide to research.
MAY 2011: Reuters BUY/SELL/HOLD consensus opinions and Updating your contact details
REUTERS BUY/SELL/HOLD CONSENSUS OPINIONS
Direct Broking provides access to Thompson Reuters consensus opinions, otherwise known as the 'Reuters Survey'.
The Reuters Survey consensus opinions are a collection of statistics and opinions from contributing stock market analysts. Access to the Reuters Survey is provided to assist Direct Broking clients who prefer to conduct their own research and gather information about a company before making a decision to invest.
Free statistics and opinions are provided for nearly every stock in all markets - NZ, AU, US and UK and include the following:
A consensus opinion to BUY/SELL/HOLD
Long term revenue growth prospects
Dividend Yield
Projected Earnings per Share (EPS)
Net Tangible Assets per Share (NTA/share)
Price to Earnings Ratio (P/E Ratio)
>> Click here to find out more
UPDATING YOUR CONTACT DETAILS
It is important to keep your address up-to-date with Direct Broking, as we may be required to withhold payment if there is a mismatch between our records and the records at the relevant share registry.
If you need to update your details with Direct Broking, please download the applicable form from our website.
Update for Individual or Joint accounts
Update for Company or Trust accounts
*You will need Acrobat Reader to view these documents
IMPORTANT NOTE: Unfortunately, Direct Broking is not able to pass your updated details to the share registries as they must receive notification from you, the registered shareholder.
View the relevant contact details for:
Computershare Investor Services (New Zealand)
Link Market Services (New Zealand)
Computershare Investor Services (Australia)
Link Market Services (Australia)
Perpetual Registries (Australia)
Security Transfer Registrars (Australia)
Registries Limited (Australia)
Australian CHESS clients are not required to directly notify Australian share registries of their new contact details - Direct Broking can do this on your behalf, please contact us on 0800 805 777 to discuss.