Converting to Electronic Shares and Selling

ari101

I'm sure this is asked and answered but my search terms are not getting me any recent advice I'm trying to assist a parent who wants to sell shares still on paper cert.

I believe they need to be converted to electronic form before sale, and this can only be done by a broker, and if so, any advice on finding a broker?

There are possibly a handful of other paper share certs buried in the attic , but it will realistically be (close to) a one-off transaction - so is it better to look for a small local broker, or are there some usual suspects that would be worth checking?

Once they are converted - I understand I can transfer to a platform like DeGiro to sell more cheaply. However, I believe I may have to pay the broker a transfer fee, is this correct and are there any other costs I should ask a broker about I'm not thinking of?

Any other advice on the above, not specifically asked for, is still welcome

Thank you,

ari

Atlantic Dawn

Depending on the shares you may be able to sell them through Computershare, this worked out cheapest for me when I had to do it and there was minimal fuss doing as a one off through them.

ari101

Atlantic Dawn wrote: »

Depending on the shares you may be able to sell them through Computershare, this worked out cheapest for me when I had to do it and there was minimal fuss doing as a one off through them.

Thank you for the suggestion, I didn't know they did dealing.
Can I ask was it for a share they act as registrar for or something from a third party? This share has a different registrar.

Atlantic Dawn

ari101 wrote: »

Thank you for the suggestion, I didn't know they did dealing.
Can I ask was it for a share they act as registrar for or something from a third party? This share has a different registrar.

Yes they were registrar. If it's a different registrar I doubt they will be able to facilitate it. Cantor Fitzgerald was who I was going to go through next, it's difficult to get a one off deal done, most want you to set up an account.

https://cantorfitzgerald.ie/private-clients/share-dealing-stockbroking/

ari101

Thanks, I understand he contacted his registrar about what to do and they told him to go to a broker, but if Computershare do trades it I might double check he actually did that... If not appreciate the other suggestion and will investigate.

Atlantic Dawn

Yes when I went through Computershare the actual end transaction was completed by Share Centre, no idea if you can go direct through them, they are in UK...
https://www.share.com/

Craig_David

Atlantic Dawn wrote: »

Yes when I went through Computershare the actual end transaction was completed by Share Centre, no idea if you can go direct through them, they are in UK...
https://www.share.com/

Presumably this was prior to 2021?
I believe the share dealing service can no longer be offered to ROI residents.
I'm actually trying to figure out who is the cheapest broker to sell a physical holding..a once off transaction. Don't want to hold an ongoing acc with the broker..

ari101

The registrar for the ones I'm looking at do still seem to offer a postal trade service for Irish managed stocks with paper certs. It would avoid all the other fees and hassle, so I'm hoping the T&Cs check out. The % rate offered probably equates to all the broker fees + DeGiro % on the value of transaction I'm looking at, and my father is definitely not up for hassle even if it might be a little more expensive :pac: So for now I'm parking my hunt for a broker.

Atlantic Dawn

Craig_David wrote: »

Presumably this was prior to 2021?
I believe the share dealing service can no longer be offered to ROI residents.
I'm actually trying to figure out who is the cheapest broker to sell a physical holding..a once off transaction. Don't want to hold an ongoing acc with the broker..

Yes it was late last year.