Best value for replacing share certificates

Headfairy

I inherited some shares from my dad, but we can't find the share certificates. I know lots have asked this in the past, but I'm trying to find the best value provider of a letter of indemnity so I can replace the certificates, so I can sell the shares. It's around £110,000 worth of shares so the quotes I've had have been high. Any suggestions?

UKX69

My broker lost some share certificates of mine a number of years ago when I was in the process of selling. Of course it fell to me as the owner to request new certificates and I had my indemnities from the registrars as not to faff about as the broker was footing the bill anyway. If I remember correctly the indemnities cost about £240 on roughly 6K ish.

Headfairy

UKX69 said:

My broker lost some share certificates of mine a number of years ago when I was in the process of selling. Of course it fell to me as the owner to request new certificates and I had my indemnities from the registrars as not to faff about as the broker was footing the bill anyway. If I remember correctly the indemnities cost about £240 on roughly 6K ish.

I have been quoted £1700 by the registrar Equiniti to replace my share certificates and I know they're not usually the best value.

wmb194

Headfairy said:

I inherited some shares from my dad, but we can't find the share certificates. I know lots have asked this in the past, but I'm trying to find the best value provider of a letter of indemnity so I can replace the certificates, so I can sell the shares. It's around £110,000 worth of shares so the quotes I've had have been high. Any suggestions?

There appears to be a company that specialises in this called Portsoken. For what it's worth, I found this via an Aviva b2b "marketplace" website:

https://connect.avivab2b.co.uk/broker/marketplace/business-and-professional/lost-share-certificate-indemnity/

https://www.portsoken.co.uk/insurance/lost-share-certificate-indemnity

Hoenir

Headfairy said:

UKX69 said:

My broker lost some share certificates of mine a number of years ago when I was in the process of selling. Of course it fell to me as the owner to request new certificates and I had my indemnities from the registrars as not to faff about as the broker was footing the bill anyway. If I remember correctly the indemnities cost about £240 on roughly 6K ish.

I have been quoted £1700 by the registrar Equiniti to replace my share certificates and I know they're not usually the best value.

The registrar is the party with the authority to issue new certicates. As they'll handle secretarial matters on behalf of the Company.  The high cost reflects the value of the share certictates lost and the indemnity premium due as a consequence. 

FrugaiMacDugal

Headfairy said:

 It's around £110,000 worth of shares so the quotes I've had have been high.

Headfairy said:

I have been quoted £1700 by the registrar Equiniti to replace my share certificates and I know they're not usually the best value.

As a percentage it's only about 1.65% for something you got for nothing.

retiredbanker1

Don't do anything at the moment!

In the next few years all certificates will be held electronically.

As for any dividends due I'm not sure if you can transfer them to an account in your name.

Hoenir

retiredbanker1 said:

Don't do anything at the moment!

In the next few years all certificates will be held electronically.

As for any dividends due I'm not sure if you can transfer them to an account in your name.

Currently the shares may well be in the name of the deceased. Until they are transferred. They remain assets of the Estate. 

TheTelltaleChart

retiredbanker1 said:

Don't do anything at the moment!

In the next few years all certificates will be held electronically.

That's exactly the wrong way to approach money saving. The OP wants to sell the shares now. Just as an example, perhaps they want to use it towards buying a home for themselves. It would be very unwise to postpone that for years, just to avoid what is effectively (in percentage terms) a small transaction cost to let them sell them now. For one thing, house prices might rise. By all means, look for any ways to reduce this cost now. But totally changing your plans to avoid a minor cost makes no sense at all. And AFAIK, there is no clear timetable for when certificates will be abolished.

UKX69

Headfairy said:

I inherited some shares from my dad, but we can't find the share certificates. I know lots have asked this in the past, but I'm trying to find the best value provider of a letter of indemnity so I can replace the certificates, so I can sell the shares. It's around £110,000 worth of shares so the quotes I've had have been high. Any suggestions?

Are they all in one company or a number of companies? In my case it was three different companies one being BP, which was the easiest and cheapest registrar to deal with if I remember correctly. Some were a right pain wanting me to fill in forms through the post or - for an extra ‘fee’ - pay by card and get covered immediately. No skin off my nose as the broker paid up anyway.