Selling your shares on Sharesies, is as easy it is to buy. As a shareholder of a failed company, chances are you will be left with nothing but valueless shares, after the leftover money and assets of the company are used up to pay outstanding wages, taxes and other creditors. An administrator (for example, Custodian Adminis, or the liquidator of Sharesies) would likely work to achieve the best outcome for investors. Your account is temporarily locked because we need some more information from you. 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. Helpful info about your Sharesies Account: personal details, password, Sharesies subscription, etc. Enter the amount of shares you wish to sell, then click “Sell Shares”. There are a few ways that Sharesies makes money. Cash deposits, and investments in non-listed funds are held by custodian Sharesies Nominees Limited, while investments in listed funds and shares are held by NZX owned New Zealand Depository Nominee Limited. 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. They make money from: There are many reasons why someone would want to get started in building an investment portfolio, and the Sharesies App has made it easy. It will then ask the amount you want to invest, once you have added the amount you wish to invest, click ‘Invest Now’. Recent examples of listed companies going bust in NZ are Pumpkin Patch, Wynyard Group, and CBL Insurance. Sharesies looks after your money and your investments in what is called a custodial system. Sharesies is an excellent stock trading platform which provides the investors with a large range of benefits and ease. It is not able to do anything with the money unless you give the instruction to do so. 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. Sharesies is currently offering six SmartShares ETFs for their investor including NZ Top 50, AUS Top 20, US 500, NZ Bond, NZ Property and AUS Resources. OP asked a question and it deserves a serious answer. Fund Managers/ETF issuers are the organisations responsible for managing the funds and ETFs you invest in. This is a legal requirement and the system is audited every year. Investors’ money is held in a seperate legal entity from the Fund Platform, with investors being the beneficial owners of that money. Brooke Roberts, Sonya Williams, Richard Clark, Martyn Smith, Leighton Roberts and Ben Crotty. It is advised to do thorough research before investing in your chosen fund or company, as they may fall into different risk categories. In addition, money held by the Custodian can’t be touched by creditors. Sharesies is a very simple service that buys from the NZX Smartshares portfolio, but only a subset of them. Funds are also independently audited. This article will provide an overview of how New Zealand investment providers look after your money, looking at a few scenarios including what happens if a Fund Platform or Fund Manager goes bust, and how you would get access to your money if the worst was to occur. New online investment platform, Sharesies has had $1million dollars invested through the platform, after just 8 weeks. Check the provider’s social media accounts. Using the card option may have an additional card fee. Once you have sold your shares in your Sharesies portfolio and the money is now in your wallet, go to the Menu, click Wallet and click Withdraw. Do the provider’s management have experience in the financial services industry (check their LinkedIn profiles)? Subscribe to get new Money King NZ articles in your inbox. You can open a Sharesies account for free and you will get charged depending on the value of your portfolio. If you’re investing in individual companies, that means you should buy multiple companies from different industries and different countries. Sharesies' purpose is to financially empower the next generation by giving someone with $5 the same investment opportunities as someone with $500,000. Managed funds, Exchange traded funds (ETFs) and Companies. Section 7 of each PDS should show who the fund’s custodian, supervisor, and auditor are. Sharesies have just celebrated their first birthday and up until this point I have resisted having a play around with their product. They have a custodial service that holds all of their customers money and non-listed funds which is separate from Sharesies Limited. This includes using custodial arrangements to keep investors’ money segregated from their own business, and having auditors and supervisors assure they are acting in the interests of their investors. Custodians are also required to reconcile records of investors’ money daily. Many Fund Managers also outsource administrative functions such as fund accounting, pricing, and the fund’s registry to other providers. Join Sharesies' co-founders Sonya and Leighton—and some weeks, even a special guest or two! Sharesies charges a monthly subscription fee if your portfolio is worth more than $50. Sharesies Promo Code: Get $5 for free when you started with Sharesies here. They’ve improved access to investing by reducing cost, removing jargon, and making investing fun. All NZX-listed exchange-traded funds (ETFs) and companies are held under Sharesies Nominee Limited’s name, and under … Sharesies does however provide a very good platform, that is arguably easier to use than its competitors platforms. You can read more about Sharesies’ custodial arrangements here. For example, Sharesies Limited cannot use investors’ money held in Sharesies Nominee Limited to pay their employees’ salaries. For many of you who are worried about making investments and buying shares through Sharesies, it keeps your money safe by using the custodial system. A unique way of saying that you will share something with someone. The funds Sharesies offers invest in shares. Cash deposits, and investments in non-listed funds are held by custodian Sharesies Nominees Limited, while investments in listed funds and shares are held by NZX owned New Zealand Depository Nominee Limited. The InvestNow platform’s legal entity is InvestNow Saving And Investment Service Limited. The platform cannot run away with your money or use it to pay their creditors, nor is the value of your funds or shares affected – after all, it is not the Fund Platform that determines the value of your funds and shares. InvestNow’s custodian is Adminis Custodial Nominees Limited, run by a specialist Wellington based investment administration company, Adminis Limited. If you have $50 – $3000, it’s $1.50 per month. From a transactional perspective this would be no different than if we simply decided to change the custodian at some point in the future. Get new investing articles in your inbox. The information should never be used without first assessing your own personal and financial situation, and conducting your own research. Once you have decided what you want to invest in, you can simply place your order within the Sharesies app. Custodians are required to be independently audited annually, and must send the auditor’s report to the Financial Markets Authority (FMA). Here’s some things you can do to see whether an investment provider is legitimate: Reputable platforms and fund managers have robust controls and measures in place to keep your money safe. ( https://www.smartshares.co.nz ). Come find out I'm sure Sharesies are pretty safe. It has been granted a robo-advice exemption by the Financial Markets Authority, so may in the future provide users with personalised financial advice online. Halifax got into financial trouble, and collapsed in late 2018 having lost almost $20 million in investors’ money. They charge an admin fee, but have a nicer front end than NZX and are a little more flexible. Brooke also worked at Xero where she learned about technology and how it can revolutionise the way businesses work. 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. 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. Again your funds are safe in this scenario because of the separation between the Custodian’s business and investors’ money. The actual funds are all legit, and available through multiple sources. Investing in individual companies vs funds – What’s better? So what is the role of the fund platform?With the custodian handling all the money, what does the fund platform actually do? Get $5 cash with my Sharesies … The content of this article is based on my personal opinion and should not be considered financial advice. Sharesies is expensive for beginners Each fund or company will have a section titled “How you can make money” which tells you ways this investment could make you money. You’ll need to be at least 16 years of age and have an NZ bank account. Let’s be friends on Facebook, Twitter, or via email so you can keep up with the latest news and posts! Just looking at the ad you can clearly see "Netflix shared account" Here is your answer: Really you have to ask if this is a Legit! Thanks for visiting Brownie Points, a New Zealand owned and operated website, Sharesies Review 2020: Easy NZ Investment App, 30 Sweet Things to do for Your Girlfriend, Transaction fees when users buy or sell companies, Rebates fund providers give for having their funds listed on Sharesies, Interest earned from the money in users wallets. There is a cost to this though. The underlying assets (e.g. Therefore this money can’t be used by the platform to run their business. IP: 104.18.5.170. Investors’ money is never touched by the Fund Platform. In the case of Fund Platforms, read their terms and conditions, and relevant help articles to determine what their custodial arrangements are (. You can set up a Kids Account for someone under 18, but it will need to be linked to an adult’s account. We’ve gone and researched Sharesies and created this solid article for you! You can either top up using a bank deposit, or using a debit or credit card. Their role is essentially to ensure that the Fund Manager is acting in the interests of investors, is in good financial shape, and acts in accordance with regulations. Custodians won’t protect you from losses arising from poor investment choices or your company going bust, nor will holding the shares in your own name make a difference. Sharesies actually let you invest as little $5. Sharesies | 18,678 followers on LinkedIn. I also haven’t covered how international investment providers like Vanguard or Hatch handle investors’ money. Keen to start building your investment portfolio with Sharesies? Your money is safe, as it is held separately by the Custodian. The share registry (record of who holds the shares, and how much they hold), would show the Custodian (Adminis) as the owner of the shares: The Custodian keeps a record of who the beneficial owner of their holdings are: When you deposit money with the Fund Platform, the money goes straight from you to the Custodian. This would result in the platform continuing in operation as usual, apart from the platform having new owners. 🍍 | At Sharesies, we want someone with $5 to have the same investment opportunities as someone with $500,000. Enter the amount you wish to withdraw, your bank details and click Withdraw. Sharesies is a simple to use investment platform that allows its users to manage their investment portfolio, from their phone. When thinking about investing your hard earned money, it is understandable (and a good thing!) Log in Sign up. Managing your Sharesies Account. We have established that Custodians hold your money in the case of both Fund Platforms and Fund Managers. It makes me want to be an goddamn intentional consumer. Sharesies.nz informations. Instead they are held in the name of a Custodian, but on your behalf, with you as the beneficial owner of the investment. Right now investors’ funds are locked up as liquidation procedures are carried out, with investors facing a 7-15% loss in their investment. Due to its familiar social network design, the platform has been dubbed “the Facebook of porn". Before Sharesies, Brooke Roberts worked at Kiwibank managing their saving and investment portfolio where she learned a lot about hedging and share pricing. If the custodian cannot transfer your assets to you, then this should be an alarm bell. To finish the article, here is the perfect quote to explain investing from Warren Buffet: Someone is sitting in the shade today because someone planted a tree a long time ago. It has become popular as the interface makes investing very easy compared to other trading platforms. Such measures are not a 100% guarantee that your money is protected against fraudulent activity. Verify your address. 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. Tends to encourage over complication, most people are best off with the single most diverse, cheapest, fund they can find. 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. If the custodian went out of business (which in our case is Adminis) it would not impact on our clients’ assets. Licensed New Zealand Fund Managers all have an independent Supervisor. Reputable fund managers use a custodian to hold investors’ money independently from the fund manager’s business. 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. Ever since Covid-19 reached New Zealand, we’ve been facing some interesting times in terms of business. Founder Brooke Anderson said Sharesies was a wealth development platform, not a wealth management one. Get in touch. Sharesies do not allow off-market transfers out of their custody. blue chip shares I feel will be safe,as an example,prior to cv19 I was happy with my portfoli,however many took a dive but most are just about back to what they were. The website's founders claim they built Sharesome for adult content creators and to offer them tools to grow their audience. Welcome to Sharesies. Another business could take over the InvestNow or Sharesies platform and the relationships with their customers. Check if Sharesies.nz is legit or scam, Sharesies.nz reputation, customers reviews, website popularity, users comments and discussions. Host name: 104.18.5.170. While this is bad for business, this has also created a new opportunity for people looking at building an investment portfolio. Sign up. The liquidation of the fund’s assets, with the proceeds returned to investors as cash, or. 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. What if the Custodian itself were to go out of business? The answer to this is yes. Sign up with this link, and you’ll get a bonus $5 in your account to invest! Once you have found an investment you wish you invest in, simply click ‘Invest’. 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. Sharesies is available for anyone who is 16+ years of age, an NZ resident, and has an NZ bank account. [this] demonstrates that you can ultimately get ownership and take control of your own assets and investments. So what are the custodial arrangements that InvestNow and Sharesies use? It is easy to add money to your Sharesies wallet. This system is scrutinised every year, so there are minimal chances of risks. Therefore it’s important to diversify your investment portfolio, so your whole portfolio isn’t wiped out if your company goes down the toilet. For example, if InvestNow went out of business while owing tax to the IRD, the IRD can’t touch the funds held by Adminis Custodial Nominees Limited to claim back InvestNow’s unpaid tax. Sharesome is an adult social media website founded in 2018 and based in Cyprus. Brooke got together with her team of co-founders and decided to create a platform that was as easy as online shopping, and was fun. No matter where you put your money, whether it be at the bank, in shares, under your mattress, or in the casino, there is always going to be at least a little bit of risk – and no way to fully eliminate the risk. We treasure our customers and if you think that any of our content has issues that need addressing, please reach out to us and let us know. They have a custodial service that holds all of their customers money and non-listed funds which is separate from Sharesies Limited. There is also an annual option for $30 per year. Sharesies makes me want to know more about managed funds, about the macro economy. Could this service run away with my money? If I buy into Sharesies, am I buying a share on the sharemarket? 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). What happens if the service I use goes out of business? Helpful info on creating and managing a Kids Accounts with Sharesies. 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). Below that it is free. Sharesies allows people with a minimum of $5 to invest to put their money into Smartshares exchange-traded funds. I've got their invitation recently and checked out their offerings. shares and bonds) of a fund are also unaffected as they are held by the Custodian. While there were a number of questionable things that Halifax did, one major issue was that they directly handled clients’ money, rather than having it go to an independent custodian. It makes me want to keep putting money into it. to question whether the investment provider you want to use such as InvestNow and Sharesies is safe. But these are topics I hope to write more about in a future article. Making investing easy. 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. Examples are Smartshares, AMP Capital, Simplicity, and JUNO. So, is sharesies.nz safe? Sharesies makes it easy to start investing—no jargon, no minimum buy-in, and all online. Your order will then be placed. Think of it as a portfolio in your pocket. Your money is also safe in this scenario, given the separation between the Fund Manager and investor’s money. If you have over $3000+ it is $3 per month. Finally, I have just scratched the surface of what the players in our financial markets have to do to comply with regulations, and keep your money safe. Adminis uses PwC, and Sharesies uses KPMG to perform their audits. In addition, they carry out activities such as marketing the platform, onboarding new customers, supporting customers, and maintaining the platform. This reflects that the custodial account they hold assets through (Adminis Custodial Nominees Limited) is a completely separate entity to their actual business. To get access to your money in the case that the Fund Manager shuts down, the fund’s Supervisor would most likely facilitate either: In the case of a KiwiSaver fund shutting down, your money would always be transferred to another KiwiSaver provider. Sharesies also claims to give the same investment opportunities from someone who invests $5, as someone who invests $500,000. Yes, Sharesies is very safe to use. When you invest in a fund, your money goes straight to the Fund Manager’s Custodian. Creation date: Not Available Accordingly we would transfer the custodial services to a new custodian. You can read more about Sharesies’ custodial arrangements here. The Sharesies platform’s legal entity is Sharesies Limited. The WoT scorecard provides crowdsourced online ratings & reviews for sharesies.nz regarding its safety and security. The problem now is how you are going to get access to your investments if the Fund Platform isn’t around. For example, InvestNow’s Custodian Adminis Limited holds investors’ money in Adminis Custodial Nominees Limited. Custodians hold investors’ money in a dedicated entity that’s seperate from the actual business of the Custodian. Sharesies’ fun user experience and much smaller offering better target new investors, however its subscription fee makes it costly for those with very small amounts to invest. Read reviews of the service in the news, on blogs, or on social media. Or you could just invest in a fund to achieve instant diversification (as funds can potentially contain hundreds or thousands of companies) – InvestNow and Sharesies have plenty of them! You can invest in local and foreign ETFs directly via major international players such as Vanguard, but for this review we only cover New Zealand-based index fund investment schemes outside of KiwiSaver. As at April 2019, Sharesies has attracted over 41,000 investors who, together, have invested over $45m. They can’t do anything with your money or investments without you telling them to. This was a serious answer by @tripp: If it sounds to good then it tends to be a scam or a service selling share plan places or stolen accounts. 12 articles in this collection Written by Renae Williams and Natalie Bryant. Close. If you have less than $50, it’s free. The transfer of your fund’s management to another Fund Manager. You can either buy a share (or a fraction of a share) directly, or a fund. Sharesies $1million Media Release. Are they posting actively, and do the likes and comments on their page appear to be genuine? Essentially it is a case of a platform going bust, and pulling their customers down with them. You may wish to consult with an authorised financial adviser before making any investment decisions. For Fund Managers, read their funds’ Product Disclosure Statement (PDS). Too many New Zealanders were priced out of investing, she said. Ready to sign up? The investments you buy through these platforms are not held in your name, nor are they owned by the platform. I split my $50 high risk funds and made minuscule returns. In theory yes – your money should be safe. Sharesies is highly regulated. So don’t let this risk put you off from investing with a reputable provider. Written by Renae Williams Updated over a week ago Withdrawing money from Sharesies If you're wanting to get your money out of Sharesies. 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