Company shares; need a custodian account?

chrisnasah

Hello,

never dealt with shares before so don’t understand what is required and hoping someone can help.

i bought some shares for the company I worked with and have now left them.  I have been informed either they can help sell them or I need to provide another custodian account so they can transfer shares to another broker.

Ideally I am not looking to sell so what are my options. For a custodian account do I need pay monthly fees? 

Can someone point me to some account I can sign up and transfer these shares?

thanks 

Brie

Had a similar thing come up a year back after having left a company with a large portion of shares from their "save" & "purchase" schemes.  

I think every company you look at will have some sort of fees attached.  So you might want to think how likely you want to actually keep the shares.  I kept mine as just as I was first considering selling Putin stomped into Ukraine and the market took a nose dive.  You may want to keep yours for a similar reason of waiting for the market to recover.

So you'll want to have a look at various investment firms, most banks have a wealth & investment side so that may be a good option.  You'll want to thing if you want to put them into a simple share account (what I did) or a share ISA.  I didn't bother with the ISA as I'm not concerned about capital gains tax on my shares.  

There are a lot of companies listed on this link so I suggest you have a read through and think about what might best fit your needs.  I would think that any company that has a shares ISA will also have a simple share account as well.  

Stocks & shares ISAs: find the best platform - MSE (moneysavingexpert.com)

Also - have a chat with any friends or acquaintances that are in the same situation and see what they have done.  Likewise the company itself may have firms they recommend for this situation.

wmb194

chrisnasah said:

Hello,

never dealt with shares before so don’t understand what is required and hoping someone can help.

i bought some shares for the company I worked with and have now left them.  I have been informed either they can help sell them or I need to provide another custodian account so they can transfer shares to another broker.

Ideally I am not looking to sell so what are my options. For a custodian account do I need pay monthly fees? 

Can someone point me to some account I can sign up and transfer these shares?

thanks 

On which stock exchange are these shares listed? Where are they held at the moment? With the registrar? E.g., Computershare, Equiniti, Link? Sounds like you need a stockbroking account that accepts transfers in and, most importantly, also offers shares in that company. If they're listed in London it should be easy, less so if they're listed abroad.

There are a number of no holding fee stockbrokers e.g., iWeb (ultimately Lloyds Bank), X-O, Freetrade (basic a/c), Trading 212.

You can find a far fuller listing and comparison here:

https://monevator.com/compare-uk-cheapest-online-brokers/

chrisnasah

Very useful thanks.

These company shares are listed in Paris Euronext market.  The shares are currently held with equiniti, I will look at all the options and then decide whether to just sell them on.