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Transferring shares to another provider/broker

15 Sep 2018, 21:54

Considering Equiniti charge an eye watering £17.50 dealing commission I wonder if anybody has managed to transfer their shares to another provider such as HL or others?
With some held in SAYE and the 2013 SIP becoming available, it would be ideal to move them across especially as I already hold shares with HL.
Not sure how difficult it is especially as they’re in trustee form.

Transferring shares to another provider/broker

16 Sep 2018, 05:58

Once the 5 year term is up, the shares are yours to do what you want with, and transferring them out of the SIP to another provider is an option.

I think it's also possible to transfer out of the SIP before the 5 years have expired, but income tax and NIC's would be payable in the same way as if you were selling them?

I have both an equity ISA and a Fund & Share Account with HL, and they do allow transfers in. They even tell you how to transfer from Equiniti via a FAQ's page, although I haven't really looked into it very closely so i don't know any details. But there are charges to be paid possibly from both HL and Equiniti.

Transferring shares to another provider/broker

16 Sep 2018, 06:08

I was looking in to this myself. I couldn't find anything about transferring out. If it is possible, I'm transferring to my standard share account with The Share Centre. They don't charge for accepting transfers, I've already done it with RM shares I bought through the EPO. I intend selling about 6k of shares a year through them, without paying Capital Gains Tax, to bridge the gap between the NRA60 and NRA65 pensions. One thing I need to add. I bought share in that company first. They pay a low dividend, about 1%. However, commission for buying them is 0. However, the real advantage of holding their shares is that you pay less commission when buying or selling shares through them.
So buy THEIR shares first. Then transfer your RM share in. When you eventually sell, make sure the Share Centre share are the LAST you sell before closing your account. Share Centre share cost only pennies, I currently hold around £4.5k of them.
I've currently got around £33.5k worth of shares, with just over £300 cash on accountHope that helps.

Transferring shares to another provider/broker

16 Sep 2018, 10:52

I think HL charge about eleven quid per transaction so its swings and roundabouts really. Especially if you sell all your shares maybe in one chunk and the value is a few thousand quid then you are not going to worry about the six quid difference.

Transferring shares to another provider/broker

16 Sep 2018, 11:36

There's a lot of different platforms that do basically the same as HL, The Share Centre, etc and they all have different pricing policies.

Some for example, will have higher annual charges and lower dealing costs or vice versa. So make sure you do your homework and go with the platform that best suits what you want to do.

Transferring shares to another provider/broker

16 Sep 2018, 15:35

heapsy wrote:I was looking in to this myself. I couldn't find anything about transferring out. If it is possible, I'm transferring to my standard share account with The Share Centre. They don't charge for accepting transfers, I've already done it with RM shares I bought through the EPO. I intend selling about 6k of shares a year through them, without paying Capital Gains Tax, to bridge the gap between the NRA60 and NRA65 pensions. One thing I need to add. I bought share in that company first. They pay a low dividend, about 1%. However, commission for buying them is 0. However, the real advantage of holding their shares is that you pay less commission when buying or selling shares through them.
So buy THEIR shares first. Then transfer your RM share in. When you eventually sell, make sure the Share Centre share are the LAST you sell before closing your account. Share Centre share cost only pennies, I currently hold around £4.5k of them.
I've currently got around £33.5k worth of shares, with just over £300 cash on accountHope that helps.

As a matter of interest heapsy, do you also invest in funds or is it just shares? If so, isn't that quite risky as funds automatically spread the risk?

Transferring shares to another provider/broker

16 Sep 2018, 15:58

I invest in both. With different companies. Some of my share are down, at the moment. Some are doing well. I'm working on an average of £6,000 per company with my shares. This will give me £500 per month from 60 onward, until I reach 65.
Stock picking can be risky, I've not gone for companies I haven't heard of before. I currently hold about £33,500 worth of shares spread across about 12 companies. When the time comes I will sell the shares that are highest priced at the time. Roll over anything about £6,000, to cover any short fall if there are any that are below that figure. It's all a bit of a gamble, Patience and time are needed to get the returns.

Transferring shares to another provider/broker

16 Sep 2018, 17:56

Personally I much prefer funds to shares! Funds can invest in 100+ different companies with the same amount of money you're investing in just one company when buying shares. If one of those companies fail then you've got the rest to pick up the pieces, so to speak. But if you've actually bought shares in that failed company, you've potentially lost all your money.
If you're investing in several funds, then you're obviously spreading the risk even thinner.

I only own shares in two companies:

RM where I have the free ones and a small number I bought via the EPO and SAYE. I'm fairly open minded as to when I sell them, but don't intend to pay tax or NIC's on any of them. I obviously want a healthy price and preferably low overall selling costs, so will probably sell in a maximum of two batches. In the meantime I'm happy picking up the dividends.
I don't really see the point of transferring them as what you gain by not paying Equiniti's charges, you're probably losing somewhere else on your new platform, such as with monthly fees. So I think any savings will be minimal.

The other company is a very small firm which I'm going to keep under my hat. I recently bought about 12,600 shares but before you get excited – I only paid £250 for the lot at just under 2p each. I see this as an outright punt rather than an investment.
Worst case scenario is I'll lose £250, best case is I might make a grand or two.

The plan with my investments isn't too different from Heapsy's – it's going to fund early retirement from 55 and to supplement my NRA60 until my NRA65 kicks in(at 65) and the state pension at 67, and beyond. In my case most of the money to do that is in pensions, which is a very tax efficient way to save on the way in. And should be predominantly tax free on the way out too.

Transferring shares to another provider/broker

25 Sep 2018, 21:26

Your punt wouldn't be ukog would it?
There's no secrets to making money on shares. Buy when low sell when high and have patience. Also don't beat yourself up, you'll never buy at the bottom or sell at the top. Research, research, research is important too. I tend to watch the news alot because they always have an agenda, a message they want to get across. Buy good, big safe dividend paying shares when the particular sector is down . Oil shares right now are up, but if you'd bought them 3 months ago you'd have made 10-15 % . My average dividend yield from the shares in my ISA is around 5.5% , so thats an income but as a bonus you can sell and make profit as a bonus. My tips for buying now are Thomas Cook ( been battered yesterday but well oversold, will bounce back), with gold prices low in their cycle buy Randgold who are merging with Barrick gold to make the worlds largest gold player and with oil high, look at companies that use alot, they will be priced low and possibly oversold as the media (remember) are selling high oil prices as a story ATM. Think airlines, look at easyJet. Buy that now, you'll have 30% return in a yr (with a 4%div in march). Biggest advice of all. DON'T GET GREEDY. Always remember, a profit is a profit and a paper loss is just that..unless you sell and make it real ( remember, patience).
It's not for everyone and can be stressful at times when your portfolio loses £3k in a day but can be much more rewarding than money in a bank. Oh yeah DON'T put ALL your money into shares too.

Transferring shares to another provider/broker

26 Sep 2018, 13:38

30% in a year is a bold statement and I'll be looking at Easyjet and the others you mentioned with interest, although I have no plans to invest.

Good general shares advice too, btw. :thumbup

Transferring shares to another provider/broker

26 Sep 2018, 16:38

RobertT wrote:30% in a year is a bold statement and I'll be looking at Easyjet and the others you mentioned with interest, although I have no plans to invest.

Good general shares advice too, btw. :thumbup

Thanks Robert. We could set up in business together, you'd be pension expert of course. Made 3% on easyJet today btw :dance

Transferring shares to another provider/broker

26 Sep 2018, 18:19

I can see it now - R & R Financial Advisors Limited. I'd want to be the first R though. :thumbup

Transferring shares to another provider/broker

27 Sep 2018, 04:59

I remember someone on here tipping BMN (Bushveld) a couple years back when they were less than 2p a share... just out of curiosity I've kept my eye on the ever since, now trading at 31p a share!

Gutted I didn't punt a few hundred on them. :arrrghhh

Transferring shares to another provider/broker

04 Oct 2018, 10:54

Do Equiniti not take a percentage of the sale too? defo one of David Cameron's pals in charge of that.

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