Selling shares

[777]

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.

[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.