Selling shares

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07-05-2021, 02:19 PM
nzspeak

Selling shares

Apologies for the dumb question, I am struggling to google an answer.

I bought shares years ago through a broker (now Jarden) now I want to sell the shares through my bank. How do I add these shares to my ANZ sharetrading platform to sell?

Thanks
07-05-2021, 02:44 PM
Snow Leopard

1 Attachment(s)

Quote:

Originally Posted by nzspeak

Apologies for the dumb question, I am struggling to google an answer.

I bought shares years ago through a broker (now Jarden) now I want to sell the shares through my bank. How do I add these shares to my ANZ sharetrading platform to sell?

Thanks

Though it is a long shot, it may be worth asking the ANZ share trading people?
Attachment 12491
07-05-2021, 03:09 PM
fungus pudding

Quote:

Originally Posted by Snow Leopard

Though it is a long shot, it may be worth asking the ANZ share trading people?
Attachment 12491

Apologies if this one is a dumb question, but why not just sell them through Jarden Direct?

https://www.jardendirect.co.nz/prici...IaAlm1EALw_wcB
07-05-2021, 03:17 PM
justakiwi

Possibly because their brokerage fee is higher? No idea what ANZ charges, but Jarden charges almost twice what ASB Securities does.

Quote:

Originally Posted by fungus pudding

Apologies if this one is a dumb question, but why not just sell them through Jarden Direct?

https://www.jardendirect.co.nz/prici...IaAlm1EALw_wcB
07-05-2021, 03:26 PM
SBQ

Quote:

Originally Posted by nzspeak

Apologies for the dumb question, I am struggling to google an answer.

I bought shares years ago through a broker (now Jarden) now I want to sell the shares through my bank. How do I add these shares to my ANZ sharetrading platform to sell?

Thanks

It may be far easier to sell the shares in Jarden (yes pay the high commissions), transfer the funds to your ASB and close the Jarden account.

You may find Jarden may also impose a 'transfer' fee to have the shares go to ASB and could be more of a hassle (paperwork filling out, declarations, and not cheaper to do).
07-05-2021, 03:33 PM
777

Direct Broking is the old ANZ run platform and is now run by Jardens. Rates are cheaper than ASB Securities if you have a Cash Management account.

If you are just going to sell them and not planning on more trades in the short term then you can just sell them through any broker and pay the fee they charge. There is no requirement to sell through the broker you bought them through. If the share registry for the shares is Computer Share Registry then they have a facility to sell through them. Not sure about Link.
07-05-2021, 03:36 PM
777

Quote:

Originally Posted by SBQ

It may be far easier to sell the shares in Jarden (yes pay the high commissions), transfer the funds to your ASB and close the Jarden account.

You may find Jarden may also impose a 'transfer' fee to have the shares go to ASB and could be more of a hassle (paperwork filling out, declarations, and not cheaper to do).

How would they transfer them to ASB? They don't have them to transfer. Share registries manage ownership of shares not the brokers.
07-05-2021, 09:07 PM
SBQ

Quote:

Originally Posted by 777

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.
07-05-2021, 09:28 PM
justakiwi

This is something that puzzles me. I have just signed up with Jarden Direct this week, purely to use them for future USX purchases. When they finished processing my account and I logged in online for the first time, my Computershare registered holdings are showing up in my portfolio as "transferred in." I didn't request this so I assume they checked against my CSN and pulled them in automatically. Given that I am only planning on using Jarden for USX trades, I don't really need or want those holdings listed there. If I ever decide to sell I would not choose to do it through them as it's more expensive than doing it via ASB Securities. It is all a bit confusing to be honest.
07-05-2021, 10:57 PM
iceman

Quote:

Originally Posted by justakiwi

This is something that puzzles me. I have just signed up with Jarden Direct this week, purely to use them for future USX purchases. When they finished processing my account and I logged in online for the first time, my Computershare registered holdings are showing up in my portfolio as "transferred in." I didn't request this so I assume they checked against my CSN and pulled them in automatically. Given that I am only planning on using Jarden for USX trades, I don't really need or want those holdings listed there. If I ever decide to sell I would not choose to do it through them as it's more expensive than doing it via ASB Securities. It is all a bit confusing to be honest.

Your shares are all held by Computershare or Link, so this is irrlevant except they show up in your Jarden portfolio because when you setup your Jarden account, you presumably gave your CSN. All very innocent.
07-05-2021, 11:20 PM
justakiwi

It was the "transferred in" wording that made me feel a bit uneasy. It feels like an assumption on their part that I am now dealing with them for everything. But thanks for the clarification.

Quote:

Originally Posted by iceman

Your shares are all held by Computershare or Link, so this is irrlevant except they show up in your Jarden portfolio because when you setup your Jarden account, you presumably gave your CSN. All very innocent.
08-05-2021, 12:45 AM
Snow Leopard

Quote:

Originally Posted by justakiwi

It was the "transferred in" wording that made me feel a bit uneasy. It feels like an assumption on their part that I am now dealing with them for everything. But thanks for the clarification.

The "proof of the pudding" is to log into your Computershare account and see if the balances for these shares are none zero:
If there are none zero then you can sell them independent of Jardens;
If they are zero then Jardens have taken Custody of them and you are locked in. [Until you do something to change that]
08-05-2021, 01:02 AM
Snow Leopard

Quote:

Originally Posted by nzspeak

Apologies for the dumb question, I am struggling to google an answer.

I bought shares years ago through a broker (now Jarden) now I want to sell the shares through my bank. How do I add these shares to my ANZ sharetrading platform to sell?

Thanks

Quote:

Originally Posted by fungus pudding

Apologies if this one is a dumb question, but why not just sell them through Jarden Direct?

https://www.jardendirect.co.nz/prici...IaAlm1EALw_wcB

There are no dumb questions but there can be dumb answers especially if you make assumptions and then give definitive answers on those assumed 'facts'.

The fact that nzspeak is asking what one would assume to be a straight-forward question leads me to assume he is best talking to his broker as the obvious assumptions are, not in fact, factual.

What is a fact is that in many facets of life we make our decisions based on our assumptions shaped by our experiences, prejudices, and lack of knowledge of the facts.

Fun heh?
08-05-2021, 07:17 AM
777

Quote:

Originally Posted by SBQ

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.