DIY custodial alternative with a lot of other features as well
In NZ we pride ourselves on being a DIY nation and this is increasingly the case with share investment.
Many DIY investors do not have access to a decent custodial system. And investors using the custodial system provided by the National Bank have recently been told that their custodial system is about to get the chop. If you don’t make alternative arrangements you will cop “a custody fee of 1% per annum of the value of the securities, with a minimum charge of $100 per annum”.
Enter Sharesight: the custodial system you have when you don’t have a custodial system. Sharesight is a simple, DIY custodial alternative with a lot of other features as well.
Not only that, Sharesight eliminates the disadvantages of a custodial system because it:
- Puts you in control.
- Allows you to be the legal as well as beneficial owner of your shares so you get all the shareholder communications from the company.
- Ensures you do not miss opportunities to participate in offers to existing shareholders which can happen if you are in a custodial system.
- Keeps you constantly in touch with how your shares are performing rather than being captive to infrequent and often inadequate reports from the custodian.
- Gives you the satisfaction and enjoyment that many investors get from managing their own share portfolios.
So if you know anyone suffering from the loss of a custodial system (or perhaps you are looking for an alternative yourself), we think Sharesight is the ideal solution.
This information is not a recommendation nor a statement of opinion. You should consult an independent financial adviser before making any decisions with respect to your shares in relation to the information that is presented in this article.
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