Broker to Hold NASDAQ Stock

pbng83

I'm just after a bit of advise. My wife has held some shares in a company trading on the AIM for a number of years and has just received a message from her broker that the company is withdrawing trading from this market although the company will retain its listing in the NASDAQ Stock. The broker has stated that they are unable to hold the stock on my wifes behalf and has given her 2 options.

A- Withdraw the stock in her own name in the form of certificates.

B- Transfer the stock to a broker that is able to hold the security .

We would prefer not to go with option A, and so could do with some advise on how to go about option B.

Just wondering if anyone recommend a broker that can hold this stock on the NASDAQ?
These are shares that she is interested in holding for a while and obviously would like to avoid both an account fee and inactivity fee if at all possible.

bowlhead99

I use TD Direct for unwrapped and ISA wrapped holdings.

They are decent. You can avoid an account fee/inactivity fee on the unwrapped account if you have a high value, or set up the account for direct debit regular investments, or link it to an s&S ISA account. And you avoid fee on an ISA account either by setting it up for regular investment or by having a high value, though the definition of "high value"for the ISA version of the account only needs to be a little over £5k.

So depending on the size of the holding or other holdings she'd be willing to put with them, she could transfer it over to the normal unwrapped brokerage account, and maybe bed and ISA it over to the ISA if wanted.

Alternatively Youinvest are ok if you have small amounts and don't want a feature-heavy account (e.g. TD allows multi currency cash, extended settlement period on UK markets etc). I say small amounts because they charge 0.25% fee (capped at £30 on the ISA or unwrapped account) and if it was a large enough balance to hit the cap, it would be large enough to get the fee waiver at TD.