Materialisation of Shares

Ceresia

I wish to move my electronic shareholding from Hargreaves Lansdown to Computershare, which is the registrar for those shares. Computershare will only accept materialised shares held as share certificates, but Hargreaves Lansdown is unable to convert the shares from being electronically held into share certificates. I need to move the electronic shares from Hargreaves to a broker who can convert them into share certificates so that I can then move them to Computershare.

This is not something I have done before. Can anyone recommend a broker who can do this? Grateful for any replies.

wmb194

https://forums.moneysavingexpert.com/discussion/6659309/materialisation-of-shares

What's your motivation? To avoid HL's new fees? If so I'd suggest Scottish Widows Share Dealing (formerly iWeb) as it has no ongoing account fee. I wouldn't bother with a certificate or using Computershare however the T&Cs say you can withdraw your investment by requesting a certificate but there may be a fee.

"You can also contact us using the Telephone Service, to request a certificate in your name for eligible Investments.
Where a certificate is re-registered in your name, we'll process this outside of the custody rules, as defined in the FCA Rules. Charges may apply. Please see our Website for details."

https://www.scottishwidows.co.uk/investing/ways-to-invest/share-dealing-services/share-dealing-account.html

https://www.scottishwidows.co.uk/assets/literature/docs/terms-and-conditions.pdf

Ceresia

https://forums.moneysavingexpert.com/discussion/comment/81920151#Comment_81920151

Yes, I want to avoid HL’s new fee for holding shares in a Fund and Share account. I’m very grateful for your suggestion and will be checking that out now. Thank you.

poseidon1

You should note that paper certificates are a complete an utter nuisance, and were a bane of my professional life when handling deceased estates, administering private family trust funds and assisting with the tracing of current shareholdings on behalf of personal tax clients.

Thankfully the government has recognised the complete nonsense of a paper based system, and 2027 is supposed to herald the dematerilisation of the remnants of the current paper based system per the article below -

https://www.euroclear.com/newsandinsights/en/Format/Whitepapers-Reports/digitising-uk-paper-shares.html#:~:text=Digitising%20UK%20paper%20shares:%20a,preference%20and%20more%20about%20inertia.

No one, should be looking to move from digitally held shareholdings to paper for any reason.

Ceresia

https://forums.moneysavingexpert.com/discussion/comment/81920553#Comment_81920553

Yes, I agree. It seems bizarre that Computershare can only accept a transfer of certificated shares. They insisted this was the only way they could accept the transfer. I'm looking to open a share dealing account with Scottish Widows. I spoke to them this afternoon, and they told me the transfer process was very simple – just as well in my case ;)

pafpcg

https://forums.moneysavingexpert.com/discussion/comment/81920553#Comment_81920553

"No one, should be looking to move from digitally held shareholdings to paper for any reason"

Perhaps you can help me then?

Can you tell me where I can get a digitised account for my paper shareholdings which will give me:

• holdings in joint names
• zero custody charges
• dividends in my bank account on the day of distribution

Any suggestions gratefully received...

nottsphil

https://forums.moneysavingexpert.com/discussion/comment/81920553#Comment_81920553

Well I had BAA certificates digitized without my agreement, yet I can't sell part of them because I can't find one of the certificates!

wmb194

https://forums.moneysavingexpert.com/discussion/comment/81927647#Comment_81927647

That's a good example of why certificates are to be avoided but that's not really the same as it was bought by Ferrovial. The planned digitisation is a bit more fundamental.