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Nominee Account or Transfer to Certificate
pauljoanss
Posts: 26 Forumite
I recently purchased a large number of shares in Tesco using a nominee account (X-O). Their value is currently down around 10% so I now plan to stay for the long haul.
Because it is a nominee account, I feel they are at "arms length" and I do not fully own them. I assume that by converting them to certificates I then become a "true" share holder and will receive all company info, dividend, possible rights issue, direct to me.
The charge is only £15 so would this be good move.
Because it is a nominee account, I feel they are at "arms length" and I do not fully own them. I assume that by converting them to certificates I then become a "true" share holder and will receive all company info, dividend, possible rights issue, direct to me.
The charge is only £15 so would this be good move.
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Comments
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Some nominees are good at passing on shareholder benefits and some aren't, but all will pay the dividends and let you take part in rights issues, etc.
Whether the "materialise" into a share certificate makes sense is really down to you. With a large holding, the £15 might just be noise, but for a small one, could represent costs you really don't need.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Whilst technically a nominee platform could 'lose' or misplace your shareholding there is a greater risk that you may lose or misplace your share certificate and, if you do, it can be a very expensive mistake to rectify.Old dog but always delighted to learn new tricks!0
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Thanks very much for your replies, looks as if no particular advantage each way, but will probably go for a certificate.0
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When you do eventually want to sell, it will be much more costly taking the certificated route.
All company announcements can be found online:
http://www.investegate.co.uk/Index.aspx?searchtype=3&words=tsco0
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