Selling Australian shares

Gwyndy

I am very late to this discussion but I am looking for guidance for my sister-in-law whose late husband (my brother - died 2023) in selling shares in Commonwealth Bank of Australia.

We can see the holding via MUFG in Australia. We have downloaded all the forms but it seems to be a daunting process, potentially full of pitfalls. I have contacted a UK broker and an Aus broker both mentioned in this chat but neither can help.

Any guidance for the DIY process would be appreciated.

Mr_Mango

Hi everybody just want to revisit this thread as my father (who is still with us) has £20k shares in CBA and we've just gone through the faff of registering on the new MUFG platform. Anyway, he is 72 this year and we are just starting to think about how we manage this shareholding going forward can anyone recommend the best course of action? Thanks.

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81976068#Comment_81976068

What sort of management do you have in mind? The thread is mainly about selling rather than holding, but what is it that you want to do and to what extent is this (in)adequately supported via MUFG?

wmb194

https://forums.moneysavingexpert.com/discussion/comment/81976068#Comment_81976068

If I were him I'd sell them now and save my executors the headache.

Focusritefocus

Hi all. Walker Crips made selling CBA shares very straightforward. Can't recommend highly enough.

bgy3jlh

Update:

I started to DIY but was very stressed with other matters and so gave in and asked the Australian solicitor who obtained the grant of probate to do it for us. He's advised me to set up an account with CMC Markets who charge 0.1% I have done so, but I've had to set it up in GBP because that's where I reside. So presumably I won't have any control over the conversion from AUD to GBP. The alternative was to use MUFG who charge 0.99%

bgy3jlh

Really? But Euroz Hartleys isn't on the London Stock Exchange

bgy3jlh

Update: CMC Invest can't help because I don't have an Australian residence.

wmb194

https://forums.moneysavingexpert.com/discussion/comment/82037822#Comment_82037822

A recent poster said they'd used Walker Crips.

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/82037900#Comment_82037900

As advertised by Gary Lineker? 😉