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Converting to Electronic Shares and Selling

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  • 12-06-2021 4:50pm
    #1
    ari101
    Registered Users Posts: 2,835 ✭✭✭


    I'm sure this is asked and answered but my search terms are not getting me any recent advice :D 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


Comments

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    #2
    Atlantic Dawn
    Registered Users Posts: 81,115 ✭✭✭✭Atlantic Dawn
    M


    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.


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    #3
    ari101
    Registered Users Posts: 2,835 ✭✭✭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.


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    #4
    Atlantic Dawn
    Registered Users Posts: 81,115 ✭✭✭✭Atlantic Dawn
    M


    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/


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    #5
    ari101
    Registered Users Posts: 2,835 ✭✭✭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... :D If not appreciate the other suggestion and will investigate.


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    #6
    Atlantic Dawn
    Registered Users Posts: 81,115 ✭✭✭✭Atlantic Dawn
    M


    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/


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    #7
    Craig_David
    Registered Users Posts: 122 ✭✭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..


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    #8
    ari101
    Registered Users Posts: 2,835 ✭✭✭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.


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    #9
    Atlantic Dawn
    Registered Users Posts: 81,115 ✭✭✭✭Atlantic Dawn
    M


    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.


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