In addition, money held by the Custodian can’t be touched by creditors. Halifax Investment Services was an investment provider that allowed people to trade shares on a variety of platforms. Enter the amount of shares you wish to sell, then click “Sell Shares”. One of the major signs, even including all around the world, is that the majority of stocks have significantly dropped in value since Covid-19 first hit. Creation date: Not Available Once you have decided what you want to invest in, you can simply place your order within the Sharesies app. Simply go to the investment fund or company you wish to sell shares in and press “Sell”. Your order will then be placed. Once you have money in your account, it’s time to find a fund or company you wish to invest in. The WoT scorecard provides crowdsourced online ratings & reviews for sharesies.nz regarding its safety and security. So, is sharesies.nz safe? For many of you who are worried about making investments and buying shares through Sharesies, it keeps your money safe by using the custodial system. I split my $50 high risk funds and made minuscule returns. The share registry (record of who holds the shares, and how much they hold), would show the Custodian (Adminis) as the owner of the shares: The Custodian keeps a record of who the beneficial owner of their holdings are: When you deposit money with the Fund Platform, the money goes straight from you to the Custodian. Founded by Sonya Williams, Brooke Anderson and Leighton Roberts, Sharesies is an online platform that aims to break down the barriers to investment, giving users access to investment opportunities – regardless of how much they’ve got to invest. The audit includes assessing whether the custodians have the right procedures and controls in place to accurately process transactions, keep records, and safeguard investors’ money. You can set up a Kids Account for someone under 18, but it will need to be linked to an adult’s account. Here are the likely outcomes: An off-market transfer could be performed to transfer your investments out of the Custodian’s name and into your own name (and into your CSN in the case of shares). For example, Sharesies Limited cannot use investors’ money held in Sharesies Nominee Limited to pay their employees’ salaries. Could this service run away with my money? Sharesies is a Wellington-based company with 28 staff, which creates a product which helps young people begin their investment journeys. Just looking at the ad you can clearly see "Netflix shared account" Here is your answer: Really you have to ask if this is a Legit! The transfer of your fund’s management to another Fund Manager. Log in Sign up. Sharesies charges a monthly subscription fee if your portfolio is worth more than $50. Sharesies was originally founded by Brooke Roberts in 2016, and was first registered on the New Zealand Companies Register in May 2017. The liquidation of the fund’s assets, with the proceeds returned to investors as cash, or. I'm sure Sharesies are pretty safe. Your money is safe, as it is held separately by the Custodian. It makes me want to be an goddamn intentional consumer. While custodians are not a bulletproof solution, It demonstrates the importance of choosing a platform that does not handle your money and uses an independent custodian. It makes me want to keep putting money into it. Yes, Sharesies is very safe to use. Instead they are held in the name of a Custodian, but on your behalf, with you as the beneficial owner of the investment. If there are a whole pile of $10 sharsies trades that drive the SP up, is … Sharesies Promo Code: Get $5 for free when you started with Sharesies here. Sharesies makes me want to know more about managed funds, about the macro economy. What happens if the service I use goes out of business? Sharesies also claims to give the same investment opportunities from someone who invests $5, as someone who invests $500,000. This article will provide an overview of how New Zealand investment providers look after your money, looking at a few scenarios including what happens if a Fund Platform or Fund Manager goes bust, and how you would get access to your money if the worst was to occur. In comes Sharesies, the perfect platform to help anyone build an investment portfolio without a minimum buy-in, or all the complicated jargon. Sharesies makes it easy to start investing—no jargon, no minimum buy-in, and all online. The problem now is how you are going to get access to your investments if the Fund Platform isn’t around. To get access to your money in the case that the Fund Manager shuts down, the fund’s Supervisor would most likely facilitate either: In the case of a KiwiSaver fund shutting down, your money would always be transferred to another KiwiSaver provider. An administrator (for example, Custodian Adminis, or the liquidator of Sharesies) would likely work to achieve the best outcome for investors. ( https://www.smartshares.co.nz ). Sharesies is available for anyone who is 16+ years of age, an NZ resident, and has an NZ bank account. Halifax got into financial trouble, and collapsed in late 2018 having lost almost $20 million in investors’ money. Again your funds are safe in this scenario because of the separation between the Custodian’s business and investors’ money. You’ll need to be at least 16 years of age and have an NZ bank account. The information should never be used without first assessing your own personal and financial situation, and conducting your own research. If the custodian cannot transfer your assets to you, then this should be an alarm bell. If you are completely new to share trading, also see this article about Building an Investment Portfolio in 2020. Sharesies' purpose is to financially empower the next generation by giving someone with $5 the same investment opportunities as someone with $500,000. 🍍 | At Sharesies, we want someone with $5 to have the same investment opportunities as someone with $500,000. Thanks for visiting Brownie Points, a New Zealand owned and operated website, Sharesies Review 2020: Easy NZ Investment App, 30 Sweet Things to do for Your Girlfriend, Transaction fees when users buy or sell companies, Rebates fund providers give for having their funds listed on Sharesies, Interest earned from the money in users wallets. Are a few ways that Sharesies makes money this would be no different than if we decided. 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