Huxley Chick

For all you financial whizz kids, what's the best/most economical way of selling shares?


It's not a vast amount - probably around £1600.


TIA


HC

Spoon

A couple of things first.

Is the stock holding (shares) in certificate form or with someone electronically in a nominee account?

Is the point of sale important or are you happy to just cash them in anytime?

Huxley Chick

Shares are held electronically at the 'trustees'


& I need to cash them in within the next week or so


ta muchly

JFB

[QUOTE=Huxley Chick]Shares are held electronically at the 'trustees'


What are the shares and what is this "Trustees" thing all about?

Jerome

Spoon

Simply ring the nominee account holders (I assume by trustees, you mean them).

You will have an account number to quote surely?

They will dispose of them asap, or if you like, wait a few days if you think the stock will change price in your favour.

Huxley Chick

Yes, they can dispose of them for me, but will charge me an arm & a leg to do so about £45


I can get them to transfer them over to me in full & issue a share certificate - would this be a cheaper option? (I can wait to sell if I have to)

JFB

If I knew what shares they were I could tell you whether or not £45 is good value. Does the Nominee charge for issuing the certificate? When you have a cert, assuming they are UK registered, you could check with your high street bank or Hargreaves Lansdown in Bristol. You might be able to sell them for £25 but you may have to fill out some forms and prove ID etc when dealing with a new stockbroker. It's up to you.

I'm sure Spoon will have a few recommendations too.

JB (FSI)

Spoon

Well HC, if you aren't happy with paying £45 for a fuss free transaction and you'd rather pay less, but run the risk of losing the certificates in the post and then selling them and having to re-post the certificates to the new brokers......

Do a search online now and open an account. TD Waterhouse for one are offering, I think, 4 months free trading at the moment. There are loads of free deals to be had too, elsewhere.

I know what I'd do though.

Huxley Chick

Thanks guys

They are Vodafone shares btw - part of the profit sharing scheme when I used to work for them.

I can cut the cost down by asking them to sell on their specified date - thought £45 was a bit steep, but like you say, hassle free.