Safe keeping accounts for shares

lunablanca

Can anyone help me please... I need to open a safe keeping account for some US shares/securities that are being transferred to me as part of my divorce settlement. I am so confused about the different charges and what I will have to pay. I have looked at a couple of online sites, but they do not seem to deal with US shares and I am not sleeping with all the worry right now having to become financially savvy overnight. ???

cheerfulcat

Hello, lunablanca,

I'm not quite sure why you need a safekeeping account; do you mean a nominee account, where a broker holds the shares for you? Hargreaves Lansdown will deal in US shares - phone number is 0117 980 9800. You could try ringing them for more specific advice concerning your situation; they are very good.

HTH

Cheerfulcat

lunablanca

Cheerfulcat

Thanks, Nominee Account/Safe Keeping I am not sure of the right name. But I need to deposit these US shares somewhere I believe. I will try and call Hargreaves and Lansdown and see if they can give me some help.

It gets very confusing when you don't know what people are talking about and I get so frustrated not understanding.

Luna

cheerfulcat

Hi, Luna,


A safekeeping account seems to be an American term for a nominee account , which is where you own the shares but they are kept in the broker's name. I think that shares in overseas companies have to be kept in nominee accounts; certainly I have never been offered the option of having them in certificated form.

A very good place for asking questions regarding shares is The Motley Fool - here's a link to the " Ask a Foolish Question " board, where you can get a lot of good advice -

http://boards.fool.co.uk/Messages.asp?mid=8822785&bid=50000

( I hope that works! )

HTH

Cheerfulcat