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  1. #11
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    Quote Originally Posted by SparkyTheClown View Post
    Slam Dunk - I'm not sure, but this illustrates the reason why its useful to have a relationship outside of a discount online brokerage firm.
    For those with a big portfolio, this is possible, but for those with a small portfolio, how can we have a relationship with all brokers to ensure we get access. And even then small investors are more likely to miss out even if you are with the right brokerage.
    Free delivery worldwide with Book Depository http://www.bookdepository.co.uk

  2. #12
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    Quote Originally Posted by SparkyTheClown View Post
    Slam Dunk - I'm not sure, but this illustrates the reason why its useful to have a relationship outside of a discount online brokerage firm.

    You may need to email the ANZ folks to see if they can apply on your behalf, or if they can simply get the shares transferred over to you after they list.
    Thanks Sparky. I spoke to the ANZ folks and they can't apply on my behalf. They've said I'll have to approach one of the lead brokers. So I'll give Forbar a call and ask the question, but I don't fancy my luck given how small this listing is.

    Cheers

  3. #13
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    Isn't UBS the lead broker on this one?

  4. #14
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    Quote Originally Posted by turmeric View Post
    The way I understand it mate, when we are talking NZ stocks, is that the brokering firm whether it be a DIY online broker like Direct Broking or one of the big brokering houses, only facilitates trades, they do not hold your portfolio. Your actual holdings are with a share registry which in NZ is either computershare or link market services. No matter who brokers your trades your holdings end up with with one of the registries. Therefore in answer to your first question, no, you will not have to hand over your portfolio if you decide to use one of the brokers to get involved in an IPO. Hopefully someone will correct me if I have gotten this wrong though.

    In terms of being a small player trying to participate in an IPO, it seems to depend on how big an allocation a broker has. My understanding is they will look after their bigger clients first. E.g. for the SLI IPO I talked to Craigs who I use occasionally and they said "The float has been oversubscribed and I only have stock available for my managed portfolio clients. Even then it’s very limited. You will need to access it via the secondary market on listing. " I'm not sure what the deal is with Wynard, sounded like there wasn't going to be easy for a small player to get involved in though. Best thing would be to give one of them a call and see.
    Thanks Tumeric! Appreciate the time you and Sparky have taken to reply. My understanding is that Forsyth Bar and First NZ Capital are the lead brokers on this so I'll call them tomorrow and, assuming I get hold of someone, will report back.

    cheers

  5. #15
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    Quote Originally Posted by CJ View Post
    Isn't UBS the lead broker on this one?
    Sorry CJ, after re-reading the nbr article I see you're right - UBS is the lead broker.

    That's funny though because the guy I spoke to at ANZ today thought Forsyth Barr and First NZ Capital were.

  6. #16
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    Slam dunk, if a broker asks you to hand over your portfolio, call the police, then FMA

    Sparky has succinctly explained the benefits of a personal relationship with a broker, and tumeric has nailed how the registry system operates

  7. #17
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    Turmeric/xerof The broker can hold your shares. ASB holds my shares in its nominee account. I do this to access their margin facility but that is not a requirement. You do pay for it, though I don't really see any value. All mail etc goes to them and they post in on. They then give a monthly summary of holding but no end of year tax report.

    My father is with one of the full brokerage firms. Gets a full quarterly summary, tax report etc. I will find out what that costs him when he is back from overseas.

  8. #18
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    Quote Originally Posted by CJ View Post
    For those with a big portfolio, this is possible, but for those with a small portfolio, how can we have a relationship with all brokers to ensure we get access. And even then small investors are more likely to miss out even if you are with the right brokerage.
    Interesting subject CJ.. Is a BIG portfolio of more interest to the brokers than an ACTIVE one.. ??

  9. #19
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    Quote Originally Posted by janner View Post
    Interesting subject CJ.. Is a BIG portfolio of more interest to the brokers than an ACTIVE one.. ??
    Would you rather be attacked by one horse-sized duck, or fifty duck-sized horses?

  10. #20
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