Too much paperwork

[jurn]

Hello,

I've never sold any shares before, and I am thinking about trading slightly more actively.

I bought 1000 shares of XYZ, and they sent me a bunch of forms and welcome letters.
If I later sell all my 1000 shares of XYZ, and then later buy 1000 shares of XYZ back again, will they send me all those forms and welcome mail again?

If so, will selling only 999 shares help in reducing the amount of mail?

thanks,
Jurn

 

[Fleeta]

What if you don't buy back in? Then you will have a less than marketable parcel and will be unable to sell. I guess if it a share that is only $1 or so, why would you care about losing it.

Then it would be annoying to get dividend cheques of only a handful of cents!

I wouldn't let mail drive your trading patterns. Maybe if you are investing in a company like PPX you might want to get extra mail!!

Personally, I think there is too much shareholder mail anyway. If you want to vote in an AGM, you should download the forms and fill them out. Personally, I always tick the box that says don't send me the annual report, updates, etc. because I access them electronically.

 

[bullmarket]

Hi jurn

I essentially agree with fleeta.

In addition, in case you are not aware, most share registries have a website and after registering an account on the website you can enter banking details for dividend payments, your TFN or 'whatever' numbers, elect to receive dividend payment notices by email and DRP options etc etc all online and hence dispense with filling out forms and sending them back. I usually log into the share registry's website a day or so after settlement date to check old details are still there or to enter new/updated details.

This won't stop the forms coming out after you buy a parcel of not previously held shares as I assume registries must continue to send out the forms in case you cannot provide the info on them online.

Regarding getting forms after rebuying previously sold shares in a company, I am guessing there is probably a time limit that determines whether the registry resends the forms. I know that on some occasions in the past after I have rebought shares that I previously sold I did not receive new forms to fill in. Maybe they just got lost in the mail...who knows

cheers

bullmarket

 

[GreatPig]

This won't stop the forms coming out after you buy a parcel of not previously held shares as I assume registries must continue to send out the forms in case you cannot provide the info on them online.

I rang Computershare one time and asked them about this, saying what I'd really like is to give default details for all companies and not receive any registration paperwork. However, they said that was not possible, and even though I could log on to their website and update the details that way, they were still legally required to send out the paperwork.

Now, all such paperwork I get through Computershare goes straight in the bin. Unfortunately though, ASX Perpetual doesn't let you update banking details online. You still have to fill out a form and post it, so better to use the one they send you which comes with a reply-paid envelope (usually).

The most annoying ones are the ones that come through other registries, especially the mining ones in WA. They don't even give you an envelope, let alone a reply-paid one!

I do have a few problems with Computershare's website though. Quite often I can simply not log on at all, just getting an indefinite hour-glass cursor after entering my login details. And at night when I do manage to log on, I regularly get some message about updating being currently unavailable and to try again later (I can still view, but not update).

All in all, a somewhat tedious process

GP

 

[bullmarket]

Hi GreatPig

re your comment:

Now, all such paperwork I get through Computershare goes straight in the bin. Unfortunately though, ASX Perpetual doesn't let you update banking details online. You still have to fill out a form and post it, so better to use the one they send you which comes with a reply-paid envelope (usually).

Yes agree re paper work except that if there is no printing on the reverse side of the form I put the form in the pile of paper for my printer (recycling and all that)

But I am surprised you can't update your banking details on the ASX Perpetual registry.

I assume you are aware that the old ASX Perpetual Registry was taken over by Link Market Services last year (I think). Now if you go to the old ASX Perpetual Registry website you are automatically redirected to http://www.linkmarketservices.com.au/

I've always been able to enter my banking details on the new website. Out of curiosity I just logged into my Link Market Services account prior to this post and on the left hand side of the screen under Access My Holdings the usual option Payment Instructions is still there. You can enter/update banking instructions for dividends by clicking on Payment Instruction.

Hope this helps

bullmarket

 

[Sir Burr]

Hi jurn
In addition, in case you are not aware, most share registries have a website and after registering an account on the website you can enter banking details for dividend payments, your TFN or 'whatever' numbers, elect to receive dividend payment notices by email and DRP options etc etc all online
bullmarket

Bull,

Excellent tip - cheers!

Been filling in those direct crediting of dividends forms and "don't send me the company report" for years. :screwy:

My letter box is too small for those reports and often the postman has jambed it between our brick fence and lattice, tipping over & smashing pot plants on the other side! Damn those company reports!

Just got onto Computershare and registered.

Thanks, SB

BTW First post! :bier:

 

[GreatPig]

Bullmarket,

I assume you are aware that the old ASX Perpetual Registry was taken over by Link Market Services last year (I think). Now if you go to the old ASX Perpetual Registry website you are automatically redirected to http://www.linkmarketservices.com.au/

I've always been able to enter my banking details on the new website.

Yes, I was aware that all the docs were coming out now with Link Market Services on them, but I hadn't thought to try updating banking details online again

So I just logged in to try it, since I have some papers sitting here beside me right now to fill out for them, and got this response:

Link Market Services Limited currently only accepts online payment instruction change requests for individual holdings.
For non-individual holdings please download a Direct Credit Instruction form which is available on the Payment Instruction page.

My holdings are in a company and a trust, so back to the paperwork

And another thing I hate about Computershare. While I can bring up a complete list of my current holdings to see which ones need bank account details updating, I can't to that for email addresses (including annual report & dividend instructions) or for stocks I've subsequently sold. For that I have to select companies one at a time from a list of all companies I've ever traded through Computershare, which takes ages if I can't remember where I last got up to. Instead I have to get out my trading history and go backwards through my purchases until I hit one I've updated already. It would be so much easier if I could see a list of all stocks I haven't updated details for yet on one page.

Anyway, I suppose I should be thankful I can actually log in this morning

GP

 

[bullmarket]

oh ok GP

All our holdings are still in individual holdings atm. In a few years I will have access to my superannuation after which it will be more critical for us to restructure our holdings to be more tax effective. Atm since 'paying too much tax' is not an issue for us, restructuring is firmly in the bottom of the 'too hard and can't be bothered' basket

Hopefully in a few years LMS will be more flexible in their banking instructions options.

cheers

 

[jurn]

hm ok thanks everyone, :

you are right. being stuck with 1 share in a company is good enough reason not to do my original plan.

thanks,
Jurn