Newbie Question Re Selling of Shares

Totanus

I'm a total newbie to share dealing so I'd really welcome some advice from the many knowledgeable people on here. After my Mum's death last year I'm tying up some loose ends from Mum and Dad's estate. They had a few shares in 5 different companies, all registered with Equiniti share registrars. The total value is less than £10k. Equiniti are asking for 1.5% or £70 min per transaction to sell the shares. They made a comment about an alternative option to use our own stockbrokers (or financial advisor) to sell the shares. I have to sell the shares to split the money with my sister in accordance with the will. Question; does 70quid per transaction seem about right? Is there a benefit of using a broker?...do I have to use a broker? I'm thinking of opening an account with (possibly) Hargreaves Lansdown. Could that be a better option? i.e. in conjunction with a new account opening?
Thanks in anticipation of your help.

refluxer

£70+ per transaction is very expensive, especially if you have to pay that 5 times to sell 5 different shares.

Share dealing sites such as x-o.co.uk charge as little as £5.95 per deal but if Equiniti currently hold your shares electronically, then they may charge if you want to transfer to another provider.

Are the shares now registered in your name and are they held electronically with Equiniti or do you have paper certificates at home ? 

Thrugelmir

You'll need to use a stockbroker in order to sell the shares. X-O is a good option. Ring them and ascertain what you'll need to do. 

Totanus

Thanks for the comments guys. My gut reaction was that it was expensive. The shares are still in Mum's name but as executor of the will I've registered the grant of probate with Equiniti. I have the original paper share certificates at home; does this make things easier?

maxsteam

Totanus said:

I have the original paper share certificates at home; does this make things easier?

Yes. You can sell the shares through any UK broker. The service you require is called certificated share dealing and the fee may be different from nominee share dealing but the fee should be considerably less than the £70 for dealing through the registrar.

X-o.co.uk and Hargreaves Lansdown have been mentioned. Both are reputable brokers and either will be able to provide you with the required certificated share dealing service. The process will be complicated slightly because the name on the certificates will not be yours and there might be a couple of extra forms to fill in but you certainly should be able to avoid paying as much as £70 per transaction.