Computershare and Link Market Services etc.

[Dona Ferentes]

finding it impossible to register Corporate Trustee (for SMSF) on Advanced Share Registry via paperless
https://www.advancedshare.com.au/

 

[Dona Ferentes]

Link Market Services - should change their name to Link No Service.

Changed address - received notice from Link that address has been changed.
Changed bank details - received notice from Link that new bank account details recorded.

Three weeks later div put in old bank account and div advice sent to old address.

Link have been to only registry to totally stuff this up.

did you change after the Ex Dividend and, (usually one day later), Record Date?

 

[peter2]

did you change after the Ex Dividend and, (usually one day later), Record Date?

Yes. XD date 29/6, div paid 28/8 two months later. Details changed one month ago.

This would be a reasonable explanation however.



Computershare who handles SGP registry paid div into new account and sent notice to new address.

 

[Dona Ferentes]

I once was diddled (and fought to get it paid to me) when I sold a parcel of a holding the day after it went ex-dividend, but didn't receive that dividend entitlement.

Got to keep an eye on them!!

 

[peter2]

Same thing happened to me also and I didn't fight for the div. ATO noticed that I didn't declare the div in that years statement and I then had to "ask" for it. Registry paid up.

 

[Belli]

The one advantage (if you can call it that) Boardroom has over Computershare is with Boardroom you can link multiple entitles which hold the same shares but different HINs (or SRNs) e.g. ARG held personally and also in SMSF. Computershare requires seperate accounts. Link Market Services allows linking as does as Advance Share Register.

CHESS notices are annoying but they are nothing to do with the share registries. Come from the ASX.

One thing to bear in mind is the issue if a company changes share registry as ARG did last year. All transaction history disappears from view in the previous registry and more than likely you'll have to pay to get it if you haven't stored that information somewhere. With ARG and Boardroom you may have history for 12 years (I have held ARG for a loooong time) and need to contact, and presumably pay, Boardroom to obtain transaction history older than that period. They ain't cheap by the way being up to $500 for each holding according to an accountant I was chatting with recently (happens often with deceased estates.)

So store everything in Cloud, Hard Disk , external hard disk (preferably two at a minimum as drives do fail) and NAS if you have one installed. Data is not backed up unless it is stored in three separate places.

May seem overkill to some but I have lived in Canbbera for many years including through the 2003 bushfires. Ever seen someone trying to reconstruct their life when all they have left is the clothes on their back and their wife's wedding ring? Didn't happen to me fortunately but it was a very good lesson.

 

[Belli]

CHESS notices are annoying but they are nothing to do with the share registries. Come from the ASX.

I remembered there was something about this somewhere. I understand it's been pushed back for a couple of years. How surprising is that?

https://www.asx.com.au/services/chess-replacement.htm

 

[peter2]

Yes, a take over offer for Link Market Frustration Services. As customers of Link we know they could do much better. Since going public Link haven't improved my customer experiences one iota.

 

[investtrader]

I thought someone might be interested in what I do. I have a few accounts plus I manage my mother's account(traditional type portfolio). I consider my trading as an investment business. As such, I delegate much of the admin to others. The same way as I do in my real world business. I use Netwealth to manage these accounts. You can place trades dierct from the portal, all admin is done by them - no more div statements, trade notes, registering with chess or any of that stuff. As I have a number of accounts there is a family fee rebate for half the admin fees. Actually the admin fees are negligable if you have decent size account and are capped. Brokerage is about .12%. You get a complete tax pack you can give to your accountant. You can get lots of reports, cloud based.
Imagine that - you just place the trades and don't worry about a thing.

 

[peter2]

@investtrader Who gets all the registry mail?
I get two envelopes per company about two weeks after every purchase (even if I've sold them). Then there's notices of meetings and proxy forms, div statements, div cheques for those companies without ebank facilities.

 

[investtrader]

@investtrader Who gets all the registry mail?
I get two envelopes per company about two weeks after every purchase (even if I've sold them). Then there's notices of meetings and proxy forms, div statements, div cheques for those companies without ebank facilities.

Hi Peter,
Netwealth holds assets as a custodian under a trust arrangement. They operate what is referred as a wrap account. A big difference is that they allow individual investors to have accounts. Virtually every other service is only offered to financial planners. Netwealth are small but the fastest growing with about 40billion of assets under management. The banks operate the largest wrap services.
Assets are combined and held in a trust so you don't have to do anything. You have an absolute entitlement to the asset but don't hold the share in your name. A bit like an IB account, I believe.

 

[rnr]

@investtrader Who gets all the registry mail?
I get two envelopes per company about two weeks after every purchase (even if I've sold them). Then there's notices of meetings and proxy forms, div statements, div cheques for those companies without ebank facilities.

Hi @peter2,

It would seem as though you need to register (set up) a Portfolio of Investments with both ComputerShare & Link Market Services. As a part of this process you have the choice to receive notifications electronically (obviously excluding any dividend cheque for those companies without e-bank facilities).
You would obviously need to set up a different Portfolio of investments for each trading entity, if applicable.

Cheers, Rob

 

[peter2]

Hello Rob, thanks for the suggestion but I have a different view about the share registry companies. I don't need them but they need me. Therefore, if they want me to provide further details they should make it easy for me to do so. I should be able to provide my details to a registry, ONCE. Not once for every company I buy shares in.

I'm sick of dealing with Computershare, Link, Automic, ASR and others.

Today I received my CHESS holding statements. There were 47 pages in the envelope. I know CHESS isn't a registry, but haven't they heard about email or have a digital registry? I'm going to need a larger, stronger paper shredder.

 

[Warr87]

Hello Rob, thanks for the suggestion but I have a different view about the share registry companies. I don't need them but they need me. Therefore, if they want me to provide further details they should make it easy for me to do so. I should be able to provide my details to a registry, ONCE. Not once for every company I buy shares in.

I'm sick of dealing with Computershare, Link, Automic, ASR and others.

Today I received my CHESS holding statements. There were 47 pages in the envelope. I know CHESS isn't a registry, but haven't they heard about email or have a digital registry? I'm going to need a larger, stronger paper shredder.

Honestly, this is annoying the hell out of me too. I am very sick of all the paperwork and the 2 x envelopes that come through like you mentioned. I like my IB account for the fact I don't get this BS and I'm tempted to shift everything to them to save myself the hassle and extend the life of my mailbox ... The fact they dont have an electronic version only is baffling.

 

[qldfrog]

Honestly, this is annoying the hell out of me too. I am very sick of all the paperwork and the 2 x envelopes that come through like you mentioned. I like my IB account for the fact I don't get this BS and I'm tempted to shift everything to them to save myself the hassle and extend the life of my mailbox ... The fact they dont have an electronic version only is baffling.

and why the hell do we have to specify again and again a TFN and bank account for each new position attached to the same HIN?Not that we could have different ones
At least allow a default:not that hard, but we know these guys make a living by billing the companies for the mailing they do, every letter is some $
Worse, this is good money which should come to you as dividends, not an imposed costs for the public companies

 

[Boggo]

and why the hell do we have to specify again and again a TFN and bank account for each new position attached to the same HIN?Not that we could have different ones
At least allow a default:not that hard, but we know these guys make a living by billing the companies for the mailing they do, every letter is some $
Worse, this is good money which should come to you as dividends, not an imposed costs for the public companies

Yes, agree entirely @qldfrog.

This was my gripe when I started this thread in Dec 2015, nothing has improved or changed.
They should at least put all the pages in one envelope.

A couple of weeks ago Aust Post put someone else's mail in my post office box. I didn't notice it as the dozen or so all looked the same so I opened someone's HVN dividend details including the HIN etc.

 

[Belli]

According to reports I have received, none here will like the share registry for Magellan Global Fund. No functionality to update details on line. Not bank details, TFN, Communication options, Distribution method. All must be done via returning a paper form to the share registry.

 

[tincanbay@1968]

Now this -They are asking all shareholders to re register their portfolios ! and start new accounts these amatuers should be put out of business anyway if you agree then make an official complaint to https://asic.gov.au/about-asic/cont...bout-asic/complaints-about-registry-services/

 

[Belli]

The Computershare systems do seem to be iffy. I participated in the MIR Share Purchase Plan. They were issued under the ASX Code MIRNA. Lo and behold I get snail mail advising that my bank details for MIR has been changed as requested. I didn't ask for that. It was because when the MIRNA shares were allocated, Computershare's system used an old account from way back when as being the default and therefore I had "requested" a change in bank details. Sure, it took less than five minutes to fix but I should not have had to fix it in the first place.

Had to do the same for both my personal holding and that of the SMSF and check no other holdings were impacted. At least with Boadroom you can link different HINs for personal and the SMSF such as holding ARG despite the site being a bit of a pain to navigate.

 

[Newt]

Hello Rob, thanks for the suggestion but I have a different view about the share registry companies. I don't need them but they need me. Therefore, if they want me to provide further details they should make it easy for me to do so. I should be able to provide my details to a registry, ONCE. Not once for every company I buy shares in.

I'm sick of dealing with Computershare, Link, Automic, ASR and others.

Today I received my CHESS holding statements. There were 47 pages in the envelope. I know CHESS isn't a registry, but haven't they heard about email or have a digital registry? I'm going to need a larger, stronger paper shredder.

Cleaned out my files recently and yep - had to replace and upgrade the shredder.
So great to be living in the paperless 21st Century