Best way to sell shares?

annie42

My husband has a few hundred shares he inherited in three different companies. He’d like to sell them but is not sure of the best way to sell them without incurring more than he needs to in fees. Any advice please? 

jimjames

Open an iWeb account, transfer them in and sell for £5 per holding

wmb194

annie42 said:

My husband has a few hundred shares he inherited in three different companies. He’d like to sell them but is not sure of the best way to sell them without incurring more than he needs to in fees. Any advice please? 

How does he hold them? Certificated or with a broker (nominee)? 

If certificated a good option is to open an account with and then lodge and sell them via x-o.co.uk, £5.95 per trade.

Currently iWeb (part of Lloyds Banking Group) might be another option as it's waiving its usual £100 opening fee, £5.00 per trade.

https://www.x-o.co.uk/

https://www.iweb-sharedealing.co.uk/

annie42

Many thanks.  They aren’t with a broker, he has the certificates. Will give him the info. Both replies are much appreciated. 

boingy

Another vote for X-O here. By far the cheapest way to sell paper certificates.

refluxer

I used X-O to sell some shares earlier this year and had no issues - that included setting up an account and posting off some paper certificates. 

broju

I inherited shares with M&S, Santander and Astra Zenica which I would like to sell.  They are all held within Equiniti and I hold no paper certificates.  Am I still able to transfer them to X-O to take advantage of their much lower charges?
Alternatively, I have a small S&S ISA with IWeb is it possible and is there any advantage, in transferring to IWeb?
  

refluxer

broju said:

I inherited shares with M&S, Santander and Astra Zenica which I would like to sell.  They are all held within Equiniti and I hold no paper certificates.  Am I still able to transfer them to X-O to take advantage of their much lower charges?
  

I've a feeling that Equiniti may charge to transfer your shares to another broker, although this might depend on how the shares are held as they offer a number of different types of account.

I'm not sure what happens when you inherit shares but if they're digitally held within a Corporate Sponsored Nominee (CSN) account (AstraZeneca and M&S are on the list of companies where this is possible), then selecting 'Another broker' and 'Digitally held (CSN)' from the link below does mention that fees are applicable when transferring to another broker from a CSN account.

https://equiniti.com/uk/help-and-support/transferring-shares/transfer-shares 

If some or all of your shares aren't held within a CSN account then you'll need to choose the appropriate option and if you're not sure, then contacting Equiniti for advice would be sensible.

If charges are applicable, then you'd obviously need to check Equiniti's own dealing charges and work out whether paying a transfer fee and selling via X-O would leave you better off. IIRC, Equiniti's fees for selling shares held within a CSN account are lower than when selling from other accounts, which is why it's important to clarify exactly how they are holding your shares so you can make an informed choice.

broju

Thank you for your comprehensive reply! 
It's very much appreciated.