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Fees for stock in Nominee accounts ?

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  • 18-05-2005 12:48pm
    #1
    Johnny Jukebox
    Registered Users Posts: 658 ✭✭✭


    Hi,

    I've just got a bill from my stockbroker in respect to a stock in nominee account which holds some North American shares.

    They say that non-Irish and UK stock must be held in this type of account.
    Is this true ?

    Any way I can avoid these fees ?


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    #2
    RainyDay
    Closed Accounts Posts: 6,925 ✭✭✭RainyDay


    How much are the shares worth? If you have $10k worth, you can open an account at eTrade and transfer your shares to them. The eTrade account has no fees (provided you meet the minimum balance criteria) and you get a $ cheque book as well.


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    #3
    Johnny Jukebox
    Registered Users Posts: 658 ✭✭✭Johnny Jukebox


    RainyDay wrote:
    How much are the shares worth? If you have $10k worth, you can open an account at eTrade and transfer your shares to them. The eTrade account has no fees (provided you meet the minimum balance criteria) and you get a $ cheque book as well.

    They were worth 5K and are now worth 250 (don't ask). If I hold onto them, I have some slim hope of a ROI, if I drop them then nothing. My broker started charging nominee fees in 2003 and has eventually caught up with me after an address change. Do I have to have a nominee a/c for US shares ?


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