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I've recently changed jobs and as part of the old job I've some shares in the company. What I hadn't realised when I left I couldn't just keep the shares in the current service I had there.
Options I have are to transfer the shares to a broker - I don't have one or to have the share certificate made out to me.
Anyone recommendations for a broker if that's the best way to go? I know very little about these things
thanks
Probably depends if you want to buy or sell other shares too. Getting the paper certificate should cost you nothing where as you may have to pay ongoing fees if you set up a stocks and shares ISA/account. Though I seem to remember shareview/equinity was fee free for a non-isa account.and I'm sure there are others. It would be easier to monitor the value using an online account.
No ongoing fees through any of the main online brokers surely. If you ever want to sell, paper certificates make it relatively expensive and slow and difficult. I'd open an account with first direct or hargreaves landsdown or someone else reputable. The shares can just sit there or you may decide to actively manage your investment (diversify!)
If you have the paper certificate - what's the process when I want to sell them?
Just have the share cert made out to you and then don't lose it. Equinity etc make it pretty easy.
I had various share certs over time for the public utilities that the tories sold off over the years. My grandad bought little bits of Britisg Gas, Britoil, British Petroleum, Telecom etc etc for each of his grandkids. TBH even if you lose the cert it's not the end of the world. I managed to sell some by signing an indemnity.
Or even better, open a shares ISA, sell what you have with the employer and then rebuy within the ISA.
Hl charge .45% annually for a stocks and shares ISA account. But their non ISA share account appears to be free. If it were me I'd open one of those or another free one and transfer them in.
Well the most important question is "if you had the cash equivalent would you buy these shares?" If the answer is no then sell them and take the cash and do something else with it. IF you do decide to keep the shares then there are many options of different platforms like the ones listed here.
https://investingreviews.co.uk/guides/best-trading-platforms-uk/
Please Please Please do not take the Cert.... (it will prove far more work, hassle and probably cost for you in the future)
HL, AJ bell, Redmayne, Stocktrade .... pick the one you like the look of the most. I'd imagen they all offer something pretty similar.
Good luck
To sell paper stock you have to get it De-materialised.
That means fill out forms in a specific way (you don't sign the forms but you have to fill your name out as it appears on the cert) etc etc .... Completely antiquated.... Avoid.
Without knowing the status of the company shares - publicly quoted on LSE, NASDAQ, or a private company - it is difficult to give advice.
Small company listed on LSE (IGP).
Would I invest in them, probably, hoping they go up before I need a new car
I am with eq, or equinity. Custody fee is 50 gbp but you offset the 11 GBP fee for trades against the annual fee. Ie, no trades you just pay 50 GBP, trade and you get the trades free up to 50 GBP.
The ex employee shares I have we got a deal from eq for the transfer, also, being ex employee shares they automatically qualified for being in an is a, ie, tax free dividends and sale profits.
I have had the ex employee shares for 25 years and just reinvest the divis, it's real rainy day money.