Selling shares

[andyxxx]

What is the most cost effective and simple way to sell shares?

I have a number of shares held/registered Equiniti and Computershare.
1% selling fee sounds rather steep?

Any advice (Keeping it simple) would be appreciated.

[deggles]

andyxxx said:

What is the most cost effective and simple way to sell shares?

I have a number of shares held/registered Equiniti and Computershare.
1% selling fee sounds rather steep?

Any advice (Keeping it simple) would be appreciated.

1% may or may not be steep, depending on the amounts involved Look into whether the registrar does a monthly batch trade which you can opt into - I think Equiniti called it 'SmartDeal', probably the cheapest option if you don't mind waiting.

[ferret50]

How do you hold the equity?

Paper certificate?

Via CREST?

[andyxxx]

ferret50 said:

How do you hold the equity?

Paper certificate?

Via CREST?

Yes - paper
(I don't know what Crest is)

[Panamax]

To be honest I'd just suck up the 1% if it's a modest amount.

If that's actually 1% of £100,000 = £1,000 it would be worthy of further careful thought.

For instance, Hargreaves Lansdown have a significant retail business,
https://www.hl.co.uk/shares/share-dealing/certific...

"If you’d like to hold shares you have certificates for in your HL account, you can transfer them into an HL Fund and Share Account for free. To do this you’ll need to complete a Crest Transfer form and send this with your certificates to Hargreaves Lansdown, One College Square South, Anchor Road, Bristol, BS1 5HL. We recommend you return your Crest Transfer form and certificates by recorded delivery."

Hargreaves Lansdown charges a standard online dealing fee of £6.95 to sell shares. Selling shares over the phone or by post costs £29 per trade.

[Panamax]

Just to add, you need to be very careful about those share certificates. If they go astray you'll be right up the chuff, paying a hefty indemnity fee (often between 2% and 3%) to get them replaced. If the certificates have significant value you might even consider taking them in person to wherever they need to go.

[Sir Bagalot]

OPen a Scottish Widows share dealing account.

Transfer the paper shares into the account (use SD when posting in)

Sell shares, cost less than £10

[andyxxx]

Thank you
Will look at both those companies

[ferret50]

andyxxx said:

ferret50 said:

How do you hold the equity?

Paper certificate?

Via CREST?

Yes - paper
(I don't know what Crest is)

CREST is a way of holding equities paperless and is the easiest way to hold and trade shares,

You now need to open a share dealing account, I use Interactive Investor but there are others available, post them the certificates via a trackable and insured service and then you will be able to sell the equities and withdraw the cash.

I assume this is an inheritance?

It may well be that the shares pay a decent dividend, be worth checking that out before cashing in!

[andyxxx]

ferret50 said:

CREST is a way of holding equities paperless and is the easiest way to hold and trade shares,

You now need to open a share dealing account, I use Interactive Investor but there are others available, post them the certificates via a trackable and insured service and then you will be able to sell the equities and withdraw the cash.

I assume this is an inheritance?

It may well be that the shares pay a decent dividend, be worth checking that out before cashing in!

Thank you.

[andyxxx]

To update.

I opened a Scottish Widows share dealing account.

Easily transferred the shares using the forms they provided. Needed to speak to them and they answer the phone and are helpful.
It took a couple of weeks from start to finish (including selling some shares and receiving the funds.)

Thanks for all the suggestions.