Share transfer?

Discussion in 'Investments' started by seamless, Dec 31, 2016.

  1. seamless

    seamless Registered User

    Posts:
    20
    Hi,

    I own approx 3k worth of shares held by Cantor Fitzgerald - I wish to transfer these to my daughter's De Giro account - anyone know how I might effect this transfer and what costs would be involved ?

    Thanks,
     
  2. Rory T Gillen

    Rory T Gillen Registered User

    Posts:
    36
    On the assumption that your daughter is over 18 - and legally allowed to own assets in her own right - then it would be a transfer of ownership and it's unlikely Cantor will transfer shares in your name over to an account in your daughter's name. It may be easier to just sell your shares in cantor, transfer the monies to your daughter's account (when you get the monies from Cantor) and purchase the same shares back into your daughter's stockbroking account. I'm not sure there's an easier way around it, but perhaps someone else knows better. You can ask Cantor Fitzgerald yourself regarding what is permitted and what is not. If your daughter is under 18, then the account you refer to in De Giro is probably in your name in which case you can probably transfer direct from Cantor to De Giro. Each broker has different costs for effecting such transfers so just ask Cantor what, if any, costs are involved in that event.