Getting all my shares in one place

lynneinjapan

I have a share portfolio (mostly inherited) which I have with X-O (the no-frills arm of Jarvis Investment Management) because there's no standing charge for them to simply hold the shares for me.

However, I have some shares in Shell - also inherited - that, for reasons unknown to me, are held in a nominee account with Equiniti/Shareview. I'm looking at moving them over to X-O so that everything is in one place. I'm thinking simplified finances and fewer sources to have to look at for info for my annual tax return.

Is there any reason (other than avoiding the £10 fee) that I should leave the Shell shares where they are rather than moving them?

wmb194

lynneinjapan said:

I have a share portfolio (mostly inherited) which I have with X-O (the no-frills arm of Jarvis Investment Management) because there's no standing charge for them to simply hold the shares for me.

However, I have some shares in Shell - also inherited - that, for reasons unknown to me, are held in a nominee account with Equiniti/Shareview. I'm looking at moving them over to X-O so that everything is in one place. I'm thinking simplified finances and fewer sources to have to look at for info for my annual tax return.

Is there any reason (other than avoiding the £10 fee) that I should leave the Shell shares where they are rather than moving them?

I'd shift them but what's the size of the holding relative to the rest of your portfolio?  It can make sense to split your assets across multiple brokers if the failure of a broker where you hold all your assets would cause problems e.g., no access to dividends or the ability to sell for up to a year whilst things are being sorted out.

Beddie

lynneinjapan said:

I have a share portfolio (mostly inherited) which I have with X-O (the no-frills arm of Jarvis Investment Management) because there's no standing charge for them to simply hold the shares for me.

However, I have some shares in Shell - also inherited - that, for reasons unknown to me, are held in a nominee account with Equiniti/Shareview. I'm looking at moving them over to X-O so that everything is in one place. I'm thinking simplified finances and fewer sources to have to look at for info for my annual tax return.

Is there any reason (other than avoiding the £10 fee) that I should leave the Shell shares where they are rather than moving them?

I'd move them. I had a few Lloyds shares with Equiniti and it was such a palaver to deal with them. Swallow the fee and get them moved across, for much easier admin as you say. You'd have to pay to sell one day anyway with Equiniti, so think of it as paying for the sale early!

refluxer

If your shares are held with Shareview (Equiniti) in a Corporate Sponsored Nominee account, then they charge 1% (with a minimum of £20) to sell up to £50k's-worth, so it might actually work out a bit cheaper to transfer them and sell with X-O, even with Equiniti's £10 transfer fee.

https://www.shareview.co.uk/4/Info/Portfolio/default/en/home/products/Documents/RatesandChargesCertificated.pdf

lynneinjapan

wmb194 said:

lynneinjapan said:

I have a share portfolio (mostly inherited) which I have with X-O (the no-frills arm of Jarvis Investment Management) because there's no standing charge for them to simply hold the shares for me.

However, I have some shares in Shell - also inherited - that, for reasons unknown to me, are held in a nominee account with Equiniti/Shareview. I'm looking at moving them over to X-O so that everything is in one place. I'm thinking simplified finances and fewer sources to have to look at for info for my annual tax return.

Is there any reason (other than avoiding the £10 fee) that I should leave the Shell shares where they are rather than moving them?

I'd shift them but what's the size of the holding relative to the rest of your portfolio?  It can make sense to split your assets across multiple brokers if the failure of a broker where you hold all your assets would cause problems e.g., no access to dividends or the ability to sell for up to a year whilst things are being sorted out.

The Shell shares are about 12% of my overall portfolio. I'm not in the habit of buying and selling shares and not reliant on the dividends (they're a nice bonus rather than income I need to live on) so I think the convenience of having everything in one place will outweigh the risk of Jarvis/X-O failing.