Selling shares

[Bobo W]

As the executor to an estate I need to sell a portfolio of shares. I want to make sure that I cover all the bases in terms of showing that I've considered the options before deciding on a course of action. Now, having never sold any shares, I have a number of questions although please excuse me if some of them are quite numpty questions:

Q. Other than transaction fees, is there anything else I should base my decision on which stockbroker to use?

Q. Does the transaction fee vary by the total value of shares sold or is it just a flat rate?

Q. Does anyone have recommendations for stockbrokers?

Q. I'm aware that some companies have buy-back schemes. Are these a worthwhile option to consider in comparison to the above once you've netted off transaction fees? If so, other than on their website is there anywhere I can look to find details of current open buy-back schemes?

Q. Other than a specific buy-back scheme is there any obligation on the company that originally issued the shares to buy them back at market price?

Thanks in advance
Steve

[limpsfield]

Bobo W said:

Q. Other than transaction fees, is there anything else I should base my decision on which stockbroker to use?

I have no experience of doing it for an estate but for me I would want to use a "big name" broker just for peace of mind and to cover myself. Commissions are very competitive these days - maybe worth a call to see if there is a deal to be done if you have a particularly wide range of holdings.

Bobo W said:

Q. Does the transaction fee vary by the total value of shares sold or is it just a flat rate?

Most tend to be flat rate these days but discounts if you trade a lot. If there are many holdings, a possible discussion to be had about a "bulk" deal.

Bobo W said:

Q. Does anyone have recommendations for stockbrokers?

For the least hassle, it may be worth speaking to the bank of the estate - if they have a stock broking department it could be the easiest way, even if it does cost a few quid extra. I use my bank as I am lazy - HSBC - and perfectly adequate if a little pricey, but not by much. Otherwise the likes of Barclays stock brokers, Hargreaves Lansdown etc

Bobo W said:

Q. I'm aware that some companies have buy-back schemes. Are these a worthwhile option to consider in comparison to the above once you've netted off transaction fees? If so, other than on their website is there anywhere I can look to find details of current open buy-back schemes?

It's worth a look but not that common - companies when announcing a buy back just tend to buy their shares in the open market.

Bobo W said:

Q. Other than a specific buy-back scheme is there any obligation on the company that originally issued the shares to buy them back at market price?

Not that I am aware of. In this day and age it should be very straightforward for you to sell this portfolio in the market through a broker and receive the funds within a few days.

Edited by limpsfield on Tuesday 15th March 08:51

[megaphone]

I think you could also do a stock transfer, rather than selling, just transfer the stock to the beneficiaries, if it's feasible. Beneficiaries can then decide what they do.

[Bobo W]

megaphone said:

I think you could also do a stock transfer, rather than selling, just transfer the stock to the beneficiaries, if it's feasible. Beneficiaries can then decide what they do.

Yes you can however it's enough hassle being an executor without having to find a way to distribute the stock in a fair and equitable way. In this case it's further complicated by the breadth of the portfolio and the number of beneficiaries