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Member
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
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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?
Screenshot 2021-05-07 104400.jpg
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Originally Posted by Snow Leopard
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
Last edited by fungus pudding; 07-05-2021 at 03:12 PM.
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Possibly because their brokerage fee is higher? No idea what ANZ charges, but Jarden charges almost twice what ASB Securities does.
Originally Posted by fungus pudding
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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).
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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.
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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.
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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.
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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.
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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.
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