Your guide to investing in shares, bonds, funds, and peer to peer lending in NZ, InvestNow and Sharesies have plenty of them, collapsed in late 2018 having lost almost $20 million in investors’ money, What I learnt – NZ Shareholders’ Association ‘Money 101’ Seminar. For Fund Managers, read their funds’ Product Disclosure Statement (PDS). You can set up a Kids Account for someone under 18, but it will need to be linked to an adult’s account. Inside the Sharesies app, you will have access to information about the company, the price history and a risk and return indicator. Your money is safe, as it is held separately by the Custodian. In order to best achieve this goal, it must first build a work environment that empowers its employees. Instead they are held in the name of a Custodian, but on your behalf, with you as the beneficial owner of the investment. But like money in the bank, nothing is 100% safe, What does interest me, and I must look into it one day, is the effect of sharsie buyers/sellers on the market price. Sharesies is available for anyone who is 16+ years of age, an NZ resident, and has an NZ bank account. I also haven’t covered how international investment providers like Vanguard or Hatch handle investors’ money. However, Sharesies (beta) got a fantastic user interface and make investing as easy as shopping online. The investments you buy through these platforms are not held in your name, nor are they owned by the platform. If the custodian cannot transfer your assets to you, then this should be an alarm bell. Get new investing articles in your inbox. The Sharesies platform’s legal entity is Sharesies Limited. Every Thursday, we unpack what's been happening in the news and the New Zealand share market, explain what it means for you as an investor, and answer your questions about money, investing, and Sharesies as a business! It is not able to do anything with the money unless you give the instruction to do so. Sharesies is a very simple service that buys from the NZX Smartshares portfolio, but only a subset of them. If anything were to happen to Sharesies Limited, your money should still be safe because it’s held separately in Sharesies Nominee Limited and the NZX Depository. "We want all New Zealanders to know investing is an option for them. Could this service run away with my money? Let’s take a look at who owns the investments that you buy through these platforms, and what happens if the platform goes out of business. You can either buy a share (or a fraction of a share) directly, or a fund. But I figure that they are still here after a year, the social media fan party has faded away and yet they still keep coming up in conversation. shares and bonds) of their funds. You can open a Sharesies account for free and you will get charged depending on the value of your portfolio. InvestNow’s Custodian allows you to transfer ownership of an investment into your own name (this is subject to the Fund Manager accepting you onto their share registry). How long to top up your Sharesies Wallet. Learn from other people. So don’t let this risk put you off from investing with a reputable provider. Enter the amount of shares you wish to sell, then click “Sell Shares”. Right now investors’ funds are locked up as liquidation procedures are carried out, with investors facing a 7-15% loss in their investment. One of the major signs, even including all around the world, is that the majority of stocks have significantly dropped in value since Covid-19 first hit. The actual funds are all legit, and available through multiple sources. Once you have money in your account, it’s time to find a fund or company you wish to invest in. A unique way of saying that you will share something with someone. Sharesies is an excellent stock trading platform which provides the investors with a large range of benefits and ease. An administrator (for example, Custodian Adminis, or the liquidator of Sharesies) would likely work to achieve the best outcome for investors. This would be the probable scenario if you hold the Vanguard funds on InvestNow, given most investors won’t meet the $500,000 AUD requirement to hold this fund in their own name. Sharesies’ custodial arrangements are less robust in this aspect, as their custodian Sharesies Nominees Limited is related to the platform, being fully owned and sharing the same directors as Sharesies Limited. Investors’ money is held in a seperate legal entity from the Fund Platform, with investors being the beneficial owners of that money. Sharesies does however provide a very good platform, that is arguably easier to use than its competitors platforms. Founded by Sonya Williams, Brooke Anderson and Leighton Roberts, Sharesies is an online platform that aims to break down the barriers to investment, giving users access to investment opportunities – regardless of how much they’ve got to invest. If there are a whole pile of $10 sharsies trades that drive the SP up, is … You can read more about Sharesies’ custodial arrangements here. Your investment in Sharesies is as diversified as … Sharesies' purpose is to financially empower the next generation by giving someone with $5 the same investment opportunities as someone with $500,000. The audit includes assessing whether the custodians have the right procedures and controls in place to accurately process transactions, keep records, and safeguard investors’ money. Come find out If you have $50 – $3000, it’s $1.50 per month. Sharesies | 18,678 followers on LinkedIn. It appears that leading up to the collapse, Halifax were struggling to pay their bills, and were able to access clients’ money, subsequently using the funds to cover their own operating expenses. 12 articles in this collection Written by Renae Williams and Natalie Bryant. Once you have decided what you want to invest in, you can simply place your order within the Sharesies app. The Fund Manager then tells the Custodian what to do with the money, for example, which shares and bonds to buy or sell in order to make up the assets of the fund. Here are the likely outcomes: An off-market transfer could be performed to transfer your investments out of the Custodian’s name and into your own name (and into your CSN in the case of shares). Recent examples of listed companies going bust in NZ are Pumpkin Patch, Wynyard Group, and CBL Insurance. Enter the amount you wish to withdraw, your bank details and click Withdraw. It will then ask the amount you want to invest, once you have added the amount you wish to invest, click ‘Invest Now’. You can either top up using a bank deposit, or using a debit or credit card. Creation date: Not Available

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