Disposal of a small parcel of shares

[vertisol]

Hi,

My grandmother has a grand total of 71 Westfarmers shares that we would like to sell. She has no other stocks.

What is the easiest way to sell them (low fees)? My father contacted a stockbroker who suggested no one would handle such a small sale and the best bet would be to undertake a share transfer to a family member who has an existing portfolio (using this form http://sraa.asn.au/forms/form23.pdf ).

Any thoughts or assistance are greatly appreciated.

T

 

[pixel]

Re: Disposl of a small parcel of shares

Hi,

My grandmother has a grand total of 71 Westfarmers shares that we would like to sell. She has no other stocks.

What is the easiest way to sell them (low fees)? My father contacted a stockbroker who suggested no one would handle such a small sale and the best bet would be to undertake a share transfer to a family member who has an existing portfolio (using this form http://sraa.asn.au/forms/form23.pdf ).

Any thoughts or assistance are greatly appreciated.

T

"no one would handle such a small sale"??? What an arrogant so-and-so! At today's Close, it's still about $2,700!
Is your grandmother's holding CHESS-sponsored? How did she obtain the shares?

Form 23 is definitely an option, possibly the most sensible one if someone you know and trust has an online account. If not, you might be able to get better advice by phoning the Share Registry; for Wesfarmers, that's Computershare in Perth, phone 1300 787 272.

 

[skyQuake]

Re: Disposl of a small parcel of shares

ASX min parcel size is $500

Open an acct with bell direct or something and sell it

 

[burglar]

Re: Disposl of a small parcel of shares

... a stockbroker who suggested no one would handle such a small sale ...

My online broker will !!
They call it a one-off trade or a Sell Only Service $55 per trade up to $10,000
(about the same as a transfer, without the tax implications)

It is conditional, but you probably meet the conditions.
You will need a HIN and a SRN.

Best part, no need to join.

netwealth
Freecall 1800 888 223
+61 2 8241 0215
(outside Australia)

 

[skc]

Plenty of sell only service around, even from the Big 4.

Here's from Westpac for example.

http://www.westpac.com.au/personal-banking/investments/sell-only-service/

And go tell the broker that's why his industry is dying. Lack of knowledge, lack of service and poor attitude.

 

[Okiishi]

E-trade or Commsec brokerage should be under a flat $20 I believe.