Do I have to sell my shares through the broker I bought them from?

Wednesday 23rd January 2002 1 Comment

Q: I have 3,000 Westpac Trust shares which I bought through a broker. Do I have to sell through the same broker? With the advent of online brokers the rates quoted for internet selling seem much less than the full service broker I bought the shares from.

A: You can sell your shares through whomever you like. All you need to provide is your FIN and shareholder number (or new CSN & FIN). If you are not already a client then the broker you wish to use will require identification as well. Go where you can get the best deal - the less money you pay in brokerage means the greater the return on your investment.

Comments from our readers

On 30 June 2011 at 6:56 pm John Smith said:

What the benefits and disadvantages of having ones shares held in the brokers nominee company? (My broker continually puts them in the nominee company and I have to ask him to re-register them in my own name)