Shares

[DeeJ]

I'm hoping someone might be able to help me on my dilemma with my shares. This is not a thread about shares advice.

Recently my company gave me $500 worth of shares which are held in their own account which I am able to access as an employee.

I have left the employer at the start of this month. The company will sell the shares and transfer the funds into my bank account.

However there is an option to transfer the shares to my own portfolio. As I do not have my own, my understanding is that I have to select a stockbroker (which usually has a starting fee of around $500) then I can transfer the shares into that portfolio.

Is it possible to create a portfolio without any fee just like having a bank account? If not any minimal stockbroker recommendations would be appreciated. I was even heading towards opening a Commsec account since it seemed fairly simple but again I don't really like the idea of paying the $600.

 

[TiggaPlease]

2 options -

1. Open an account with a discount online stockbroker and have the shares transferred to your HIN - the only cost involved here would be brokerage fees if you decide to trade.

Brokers with low brokerage rates include CMC Markets Stockbroking, Share Investing Limited (Formerly E*Trade) and Bell Direct.

2. Get the company to transfer the shares to Issuer sponsored shares - Again this will cost you nothing, however if you decide to sell the shares in the future it will take a little bit more effort.

 

[DeeJ]

2 options -

1. Open an account with a discount online stockbroker and have the shares transferred to your HIN - the only cost involved here would be brokerage fees if you decide to trade.

Brokers with low brokerage rates include CMC Markets Stockbroking, Share Investing Limited (Formerly E*Trade) and Bell Direct.

2. Get the company to transfer the shares to Issuer sponsored shares - Again this will cost you nothing, however if you decide to sell the shares in the future it will take a little bit more effort.

Thanks mate, CMC actually came up as one of the recommended options so I will check them out now.

 

[Diesel]

I use ANZ Share Investing (Etrade) as that was recommended to me which is easy to use and the customer service I great