Hello,
I've been holding some shares in paper format for years, but I am now considering transferring them all into electronic format and holding them through my account with my broker.
Thanks.
I've been holding some shares in paper format for years, but I am now considering transferring them all into electronic format and holding them through my account with my broker.
- With regards to long term holdings, I don't feel the need to have them ready to sell at short notice so traditionally that has been one reason for holding the shares in paper format. I am now considering selling some shares and reinvesting proceeds elsewhere, so obviously that is a consideration.
- Also, there were times when I had more than one stockbroking account (and other times when I did not have any), so where to store them electronically was a question. These days, I only have one account and don't intend to open a second one. I expect to retain this account for the next few years (if not longer).
- Then there were considerations such as cost (if I only maintained a stockbroker account to hold my investments), or risk of a problem with the collapse of a broker etc. In the overall scheme of things, these were not big concerns. Traditionally, there have been few brokerages collapse in Ireland, while an annual cost is not an issue if I'm going to have an account regardless.
Thanks.