Shares account suitable for very low level of activity?

PetraMac

Hi all, I have some shares abroad and want to transfer them to an account here. I plan to do hardly any trading, as the shares are more for long-term investment. I've looked at the online trading offerings from the various providers here, but all seem expensive for the low level of activity I would have. Does anyone know of a product suitable more for "holding" shares than regular trading? TIA, Petra

rondjon

If you're not trading, you're better off getting the shares in certificate format and stick them under your mattress.

The cost of accounts here are ridiculous.

(Of course this is all fine until dematerialisation )

PetraMac

Thanks rondjon! Hadn't actually thought of that.
What do you mean by dematerialisation - I mean, I know what the term means, but do you mean that it would be difficult to get them dematerialised if I ever want to trade them online?

rondjon

PetraMac wrote:

Thanks rondjon! Hadn't actually thought of that.
What do you mean by dematerialisation - I mean, I know what the term means, but do you mean that it would be difficult to get them dematerialised if I ever want to trade them online?

There are plans to remove completely all paper share certificates from circulation. I don't exactly know how this will impact someone in your situation (or mine) with regards to holding shares without them costing you anything.

You would expect that there will be some sort of way to hold shares without actually having to pay a stockbroker for this service, particularly when you'll have no other alternative once dematerialisation goes through.

In the meantime, there's no problem if you have paper certs and need to sell your shares. You can just send them in to your broker with a signed transfer form.

i71jskz5xu42pb

I think a lot of the bigger companies offer the facility to hold your shares with a nominated share registrar. This is supposedly the equivalent of buying directly from the company. For example Cendant use a company called Mellon (who also offer this service for a lot of other companies).

This I think is the alternative that will be proposed to paper certs under the mattress.

Doesn't get the shares "here" though, I suppose (and you might end up dealing with as many registrars as companies you have invested in).

So why you want the shares here anyway? If your shares were with somebody like etrade.com you pay nothing for just holding the shares? I'm 90% sure you can open an etrade account from Ireland.

Flukey

Shop around with some of the stockbrokers that run nominee accounts. Share certs are being phased out. Ireland and Britain are one of the few, if not only countries left using them. I have some certs, but most are in a nominee account. There are pros and cons to both.

hmmm

You'll probably be charged for having a nominee account, but on the other hand fees for handling certificates are becoming prohibitive. Best to work out the costs on each and compare.

ircoha

PetraMac wrote:

Hi all, I have some shares abroad and want to transfer them to an account here. I plan to do hardly any trading, as the shares are more for long-term investment. I've looked at the online trading offerings from the various providers here, but all seem expensive for the low level of activity I would have. Does anyone know of a product suitable more for "holding" shares than regular trading? TIA, Petra

As asked previously, why do u need to move them back?

Why cant u trade thenm from here?

Online trading here is v expensive

I have a low level acc for 40€ pa which is not bad, I think.
pm me if u need details