Selling shares

richyje123

Hi,

I have approx £60k in shares in the following companies...

IAG
Santander
Whitbread
Diageo
Lloyds

They are with the original Broker (e.g. IAG - Computershare). I have been looking at the dealing costs for selling them with their current brokers which is much higher than the likes of Hargreaves Lansdown which charge approx £12 per trade.

In order to sell them with Hargreaves Lansdown I believe I would have to transfer the shares over to them to be held in a fund and share account.

I am wondering if it is safe for me to transfer the shares like that. Also if anyone has any suggestions on who to use to hold and sell the shares (when the time is right) please let me know.

Thanks,

Richard

Jaglad111

The HL fund and share account charges £11.95 per trade and a closing fee of £25. It drops to £8.95 if a set number of trades are completed in a rolling 30 day period. I would stay where you are.

Jaglad111

Also note that IAG will charge £25 per share transfer to another broker. They also quote £12.50 per transaction so for the sake of £3 saved you will be £122 out of pocket.

Vortigern

Do you hold share certificates? Or are the shares in a nominee account?

If certificated, you can send the certificates to your chosen broker's nominee account and sell from there.

Is it safe? Some suggest using Special Delivery when posting share certificates.

If in a nominee account already I think you can get a form to change the nominee.

XO are cheaper than HL. I've used XO to buy, sell and hold shares and ETFs. They charge £5.95 per deal. No charge to hold shares or close account (except for ISA closure)

Watch out for CGT, if your potential gain is greater than £11,300 you may wish to spread the sales across two tax years.