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Thread: Newbie guidance

  1. #1
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    Default Newbie guidance

    Good morning all

    I have been lurking in the background of the forum for a few weeks now, trying to read as many "newbie" posts as possible to try and absorb as much information as I can. I read back about 5-6 pages of posts to get as much information as possible before posting. Everyone seems incredibly friendly on posts so thought I would take the plunge!

    My current situation - 30yr F professional, my partner and I have a fairly decent household income with no dependents and fairly frugal. Recently sold my first home (that I had been renting out) and now have $100k+ sitting in a savings account however know that there are better places this could go. Growing up, my family were always OK with money but never ventured into shares etc. so my knowledge is starting from scratch. I am doing a bit of reading, working my way through:

    Take charge of your money now - Stephen Parr (reading)
    Martin Hawes' Investment Guide - Martin Hawes (waiting on from the library)
    Global Investing: a guide for New Zealanders - John Ryder (waiting on from library)
    Intelligent Investor - Benjamin Graham (waiting on from library)

    As you can imagine, the big wide world of investing involves a lot of researching which is why we want to feel a bit more prepared before jumping straight in. We don't want to invest the full amount straight off the bat, but are wanting to invest a portion of it to get us started and build our confidence in this type of investing. We would also then be investing regularly from our pays.

    We were going to sign up with ASB Securities however they are being difficult with their registration process (even though I have been a customer with them for 29yrs). Are they worth the time and effort or is there someone else out there? I have seen the name SuperLife floating around a bit.

    Should we make time to see a Financial Adviser or just persist with our own research? Secondly, how do you even begin to research?

    Any guidance or lessons learned would be greatly appreciated!


    Thanks!

  2. #2
    Ignorant. Just ignorant.
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    Make time to see at least one financial adviser. One independent and one from one of the major (non-bank) chains. That will give you a benchmark.

  3. #3
    Divorced from logic Hectorplains's Avatar
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    Quote Originally Posted by Willingtolearn View Post
    We were going to sign up with ASB Securities however they are being difficult with their registration process (even though I have been a customer with them for 29yrs). Are they worth the time and effort or is there someone else out there? I have seen the name SuperLife floating around a bit.
    I use ASB Sec for almost all my NZ and Aust trading - I have a couple of dormant broker accounts too - largely retained to give access to IPOs and because they cost nothing. I've found ASB Sec a great trading platform and keenly priced. If you're having issues maybe ask to change banker, especially with such a long banking relationship. Mine was set up in minutes and no drama.

  4. #4
    Missed by that much
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    I went with ANZ Securities. They were easy to deal with as long as you can prove who you are, where you live, that your grandparents were married and that the local mayor has known you for at least 90 years. Well not quite that bad, but there is a hell of a lot of documentation that has to be filed with your account application. I think the big broking firms now require similar so they won't make it any easier.

  5. #5
    Guru justakiwi's Avatar
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    I'm a newbie too (with a lot less to invest though!). Not sure why you are having problems with ASB Securities. I signed up online and it was a very quick and painless process. I have made one trade since then - the process was very user friendly and simple. So I'm really puzzled as to why you are having such a hard time registering.

  6. #6
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    Anti Money Laundering rules (AML) can cause delays if they don't have the right info on you. If you are a longstanding customer, they may need to update their info. All institutions will be the same though some are more strict than others. If you trade through an entity, it can be even worse.

  7. #7
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    It took me about three trips to a branch and a phone call in order to get registered with ASB, was such a nuisance.

    I had a hard time proving my address from a utility bill - who doesn't have them emailed nowadays? And they wouldn't accept a printed copy of the emailed bill.

    Happy with the platform though.
    Last edited by unhuman; 11-10-2016 at 08:40 AM.

  8. #8
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    Quote Originally Posted by unhuman View Post
    It took me about three trips to a branch and a phone call in order to get registered with ASB, was such a nuisance.

    I had a hard time proving my address from a utility bill - who doesn't have them emailed nowadays? And they wouldn't accept a printed copy of the emailed bill.

    Happy with the platform though.
    This has been exactly that. They said that they wouldn't accept a proof of address that has been emailed. I pointed out that these days having bills posted can end up costing and is bad for the environment. I don't really want to change it once just to get this type of proof. I'm waiting to hear back from their account team to see what they say about it.

    How easy is it to purchase international shares through ASB? I see SuperLife can purchase these online through their platform...

  9. #9
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    Quote Originally Posted by justakiwi View Post
    I'm a newbie too (with a lot less to invest though!).
    Part of me wishes I didn't have so much to invest! Everyone seems to have an opinion..

  10. #10
    Super Investor
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    Quote Originally Posted by Willingtolearn View Post
    Part of me wishes I didn't have so much to invest! Everyone seems to have an opinion..
    Things could be worse Lol!
    h2

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