share transfers

[marcros]

I have some shares that are bought at a slight discount through a share save scheme at work. The scheme is administered by Fidelity, which I don't like because it is not very user friendly, and if I sell will cost me quite a bit receiving the GBP in my bank account. The shares are NYSE listed and priced in USD.

I also have some (non-work) shares in a Degiro account, which I much prefer. Easy and cheap to buy and sell, and easy to see what is going on.

I want to transfer everything to Degiro, but am at a complete loss as to how I do so. Anybody done anything similar? I dont want to sell and re-buy if I can avoid it. I dont plan to sell immediately, but my motivation for transferring is so that if I did want to, it is cheap and painless.

Neither company seems that easy to contact.

 

[lurker]

There is a Nigerian bloke who will do this for free if you send him your account number.

 

[Trainee neophyte]

I have some shares that are bought at a slight discount through a share save scheme at work. The scheme is administered by Fidelity, which I don't like because it is not very user friendly, and if I sell will cost me quite a bit receiving the GBP in my bank account. The shares are NYSE listed and priced in USD.

I also have some (non-work) shares in a Degiro account, which I much prefer. Easy and cheap to buy and sell, and easy to see what is going on.

I want to transfer everything to Degiro, but am at a complete loss as to how I do so. Anybody done anything similar? I dont want to sell and re-buy if I can avoid it. I dont plan to sell immediately, but my motivation for transferring is so that if I did want to, it is cheap and painless.

Neither company seems that easy to contact.

You should able to transfer the management company, without selling and rebuying the shares, therefore no chargeable gain will occur. This form may be the correct one: https://www.degiro.ie/data/pdf/ie/Trans ... tfolio.pdf but talk to Degiro, or at the very least read the terms and conditions and services offered.

If you believe random advice from the internet about money, I have a magnificent investment opportunity for you involving a bridge.

 

[marcros]

Send me the details on the bridge...

My main question is whether I need to speak to the incoming account, like with pensions and banks or the outgoing one, or both. Seems to be both.

 

[MikeK]

Always talk to the receiving brokerage, as they will have more to gain from the transfer. It most cases, it is possible to perform an "in kind" transfer of securities from one brokerage firm to another. I did this with an ETF from Putnam Investments to Vanguard. The transfer took a few months for all of the loose ends to be tied up, such as unpaid dividends, but the main part of the ETF was transferred a week after I started the process. This was about 20 years ago and I can't remember the details, other than I contacted Vanguard and gave the analyst helping me all of my Putnam details. In my case, both brokerage firms were in the States.