Share query

peabottle

Hello,

My wife and I have received communication from abrdn of our new share account options, to buy/sell/transfer, we have no need for the cash at the moment, shares together total 730 we have held shares from Demutualisation, we are now wondering should we transfer shares to another platform or leave the shares where they are ( Equiniti ). We have never dabbled in shares before, only purchased index funds/trackers.

Any suggestions, views would be most welcome.

Many thanks 

Marcon

peabottle said:

Hello,

My wife and I have received communication from abrdn of our new share account options, to buy/sell/transfer, we have no need for the cash at the moment, shares together total 730 we have held shares from Demutualisation, we are now wondering should we transfer shares to another platform or leave the shares where they are ( Equiniti ). We have never dabbled in shares before, only purchased index funds/trackers.

Any suggestions, views would be most welcome.

Many thanks 

Not clear what are you trying to achieve - in particular, what would transferring to another platform accomplish? Without knowing your objectives, it's impossible to suggest which route would be most likely to meet these.

[Deleted User]

If you never invested in individual shares. and presumably wouldn’t buy them, why are you even considering hanging on? You can sell the shares with the proceeds and buy whichever assets and investment tool you prefer using the brokerage of your choice. 

peabottle

Thank you for your replies, my main concern is the price of selling units at a £50 charge is this acceptable?. Would it be beneficial to transfer to another platform and sell units if need be with more agreeable terms. Please forgive my ignorance with costs associated with buying/selling/ holding shares. My main thoughts would be to hold onto the shares for the present time. 

I am aware the share price has moved south.

Many thanks 

MallyGirl

Equiniti is expensive. When I had shares held by them I transferred them to X-O and sold for £5.95

peabottle

MallyGirl,

Thank you for your suggestion sounds good,. I will look into it.

2 questions I need to ask.

If I left the shares with X-O,would charges be accecable untill I sell.

At the moment we receive 2 dividends a year each,do we leave as it is.

Any thoughts appreciated.

MallyGirl

X-O was just one example. There are others. X-O stands for execution only - I don't believe there are any other charges.

Just because you get a small divi (maybe £20 twice a year) that doesn't mean it is necessarily one to keep. The comment above holds true - if someone gave you £1000 are these shares what you would buy with it? If not then I'd probably sell them to keep life less complicated.

Thrugelmir

peabottle said:

MallyGirl,

Thank you for your suggestion sounds good,. I will look into it.

2 questions I need to ask.

If I left the shares with X-O,would charges be accecable untill I sell.

At the moment we receive 2 dividends a year each,do we leave as it is.

Any thoughts appreciated.

No other charges for a General Investment Account. Dividends will be credited to the GIA as paid. You then can reinvest the money or draw it out. Withdrawls being free of charge. 

peabottle

Thank you all for taking the time to reply back to me, your comments have been very helpful. I will transfer the shares out and will take on board your suggestions.

MallyGirl - you raised a valid point regarding keeping the shares, do I hold on hoping they recover,or look for pastures new.

Thrugelmir - Thank you for the explaination regards taking out an account, you have explained it clearly.

I will take action regards both of you comments,thank you all for being most helpful.