Selling Shares - Beware of ComputerShare

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Centaur

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I sold four lots of shares on 14 June, three through Capita Registrars and one through ComputerShare (on the honestly given advice of my stockbroker who said he couldn't compete on cost!).

The Capita sales were very well handled and I received settlement in 5, 7 and 8 days respectively with all matters dealt with promptly online.

I still have not received settlement from ComputerShare despite three emails and two letters. Apparently the money laundering info suppled is inadequate (same as I supplied Capita, more in fact) but they won't tell me why. They've sent me the same automated responses four times by post asking me eack time to fill out the same information and have it certified by my solicitor which I've already done.

Has anyone else had this type of experience - what did they do about it?

Thanks
 
I wouldn't dream of selling shares through a Company Registrar. They are generally very inefficient and unresponsive.

It's best to avoid any dealings with them.

I had such a problem with one of them, that I contacted the chairman or company secretary of the company involved. You should consider doing the same. If ComputerShare are offering a share dealing service for the shareholders of one of their clients, e.g. CRH, then CRH would welcome feedback if they are not doing it right.

Brendan
 
Had terrible experience with computershare recently also. Documents were lost, unexplained delays. Would not recommend them.
 
Thanks, Brendan - I wrote to the CEO directly as suggested. Got an immediate response by email and a promise that the money was on its way. Not a great way to do business though - I'll have to wait and see if it actually arrives as promised!
 
The money arrived - some 45 days after the trade. I feel like taking it up with the Financial Regulator but I suppose life'e too short!
 
FXBD as bad

Thanks for this, very interesting.
I'm executor of an estate and share sale executed on 16th of June. It's like pulling teeth getting all the paperwork/funds
The latest is
"FXCM are having difficulty dematting them, they had an issue with medallion stamps. They are waiting on them to clear (a bit like a cheque) and they have ensured her that they are currently working on it.

This is Elan/Perrigo.

I had understood all share sales had to be completed within 10 working days!
 
Very informed comments from above posters. Thank you from an interested would be investor.
 
marymary2 said:
I'm executor of an estate and share sale executed on 16th of June. It's like pulling teeth getting all the paperwork/funds
Click to expand...
I’m also the executor of an estate and this mirrors my experience with Computershare.
Computershare say they have a Bereavement Pack that contains information on how to register the death of a shareholder, the procedure for obtaining any outstanding payments and details of how to transfer or sell the holding. So perhaps you could ask them for one?
They told me they were sending me a bereavement pack on 25 March 2014. I still haven’t received it yet.
They do have some info on this web site at https://www-uk.computershare.com/Investor/faqs2.asp?bhjs=1&fla=1&category={1C8B8537-323D-4D3C-8E8D-002B192F3B7D}
 
Fxbd

Thanks for that. They have actually registered the death and sent some shares sales after paying duplicate fees just not Elan/perrigo.
Took Brendan's advice and emailed the President of Investor relations, last thursday. No response. Have just left phone message on voicemail saying will make complaint to financial regulator so maybe that will get a response.

The estate is being managed by a solicitor and probate agent all of whom are getting paid for this. Took a year to get a written email let alone an opinion from a barrister on another issue on this will. The level of professional services for the ordinary joe soap seems very poor in this country.
 
Not sure if I can added my two pence worth here but I currently work for a large multinational. We get a share package and can contritbute if we wish to do so. Our shares are dealt with Computershare USA and I have found them very effective, efficient and once shares are sold funds are usually in my account in approx 3-4 working days.
Only initial problem was setting up the online account as letters needed to be posted back and forth to the States for about 6 weeks but after that the online account is very easy to use and understand.
 
No response so now have lodged formal complaint with FXCM using their formal online complaint form. Apparently they aim to respond within a week but the regulator allows them 2 months.
 
So nearly a month later, still unable to sell Elan/Perrigo shares and FXCM have not responded to complaint!
Do not buy shares through FXCM if you need to sell them !
 
I notice a lot of don't use Computershare for sales info here. I have'nt dealt in shares myself for some time now. An elderly relative has a number of shares in FBD/AVIVA and asked me to assit him in selling them. Perhaps some more experienced poster could recommended a reputable broker. BTW some of the share certs are old and don't match the holding. Could a broker handle this?
 
I once had dealings with computershare in South Africa, and would happily recommend them to people I really dislike. To say they were icompetent would be complimentary.
 
Hi 44b

I would recommend Campbell O'Connor. They provide an excellent service to personal clients.

I had a problem with the number of shares not matching certs and the Registrars wanted a big fee for reissuing the cert which would not have covered the proceeds of sale. Campbell O'Connor suggested that I write directly to the chairman of the company - I think that it was CRH - and it was resolved very quickly without charge.

Brendan
 
I went online on 1st. Sept. and sold through computershare 3 shareholdings. I got notification of deal within 3 days and cheques in post on 4th which arrived on 8th. I found the system excellent.
 
fxcm still unable to sell elan perrigo

On 3rd attempt finally got response from fxcm.
They "appreciate my patience & are working with 3rd parties to resolve & will be in touch. ".
Its now 3 months since we instructed them to sell the shares & still not even a date when they might be in a position to sell.
Avoid Fxcm.
Elan perrigo say not their problem.
 
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