It will then ask the amount you want to invest, once you have added the amount you wish to invest, click ‘Invest Now’. Sharesies | 18,678 followers on LinkedIn. The content of this article is based on my personal opinion and should not be considered financial advice. Keen to start building your investment portfolio with Sharesies? 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. Below that it is free. 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. All NZX-listed exchange-traded funds (ETFs) and companies are held under Sharesies Nominee Limited’s name, and under … Then there is also information about the potential fees that come with the fund or company charges. Fund Managers/ETF issuers are the organisations responsible for managing the funds and ETFs you invest in. In the scenario that you’ve invested in the shares of an individual company, and that company goes bust, you will unfortunately lose money – It’s the company itself that gives that company’s shares value. Once you have decided what you want to invest in, you can simply place your order within the Sharesies app. 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. The answer to this is yes. Info on how long it takes for money to go from your bank account to your Sharesies Wallet. Section 7 of each PDS should show who the fund’s custodian, supervisor, and auditor are. 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. Subscribe to get new Money King NZ articles in your inbox. Sharesies looks after your money and your investments in what is called a custodial system. I also haven’t covered how international investment providers like Vanguard or Hatch handle investors’ money. Sharesies charges a monthly subscription fee if your portfolio is worth more than $50. Sharesies do not allow off-market transfers out of their custody. 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. Funds are also independently audited. Sharesies makes it easy to start investing—no jargon, no minimum buy-in, and all online. "We want all New Zealanders to know investing is an option for them. Get new investing articles in your inbox. Halifax got into financial trouble, and collapsed in late 2018 having lost almost $20 million in investors’ money. If I buy into Sharesies, am I buying a share on the sharemarket? We spoke to co-founder & CEO Brooke Anderson to find out more. 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. [this] demonstrates that you can ultimately get ownership and take control of your own assets and investments. 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. Sharesies also claims to give the same investment opportunities from someone who invests $5, as someone who invests $500,000. 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! Using the card option may have an additional card fee. If the custodian went out of business (which in our case is Adminis) it would not impact on our clients’ assets. Essentially it is a case of a platform going bust, and pulling their customers down with them. The website's founders claim they built Sharesome for adult content creators and to offer them tools to grow their audience. Examples are Smartshares, AMP Capital, Simplicity, and JUNO. If you are completely new to share trading, also see this article about Building an Investment Portfolio in 2020. Inside the Sharesies app, you will have access to information about the company, the price history and a risk and return indicator. So what are the custodial arrangements that InvestNow and Sharesies use? 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 can set up a Kids Account for someone under 18, but it will need to be linked to an adult’s account. Too many New Zealanders were priced out of investing, she said. Investors’ money is never touched by the Fund Platform. Check if is legit or scam, reputation, customers reviews, website popularity, users comments and discussions. Get in touch. Yes, Sharesies is very safe to use. Sharesies Promo Code: Get $5 for free when you started with Sharesies here. Found this article helpful? Tends to encourage over complication, most people are best off with the single most diverse, cheapest, fund they can find. This relies on the manager of your fund willing to accept you onto their share registry – For example, the Vanguard funds on InvestNow require a minimum investment of $500,000 AUD, so Vanguard are unlikely to accept smaller investors. Close. What happens if the service I use goes out of business? 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 the provider is offering something too good to be true, it probably is. The underlying assets (e.g. Your account is temporarily locked because we need some more information from you. The Sharesies platform’s legal entity is Sharesies Limited. There is also an annual option for $30 per year. 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 an excellent stock trading platform which provides the investors with a large range of benefits and ease. OP asked a question and it deserves a serious answer. What if the Custodian itself were to go out of business? The transfer of your fund’s management to another Fund Manager. 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. It has become popular as the interface makes investing very easy compared to other trading platforms. The investments you buy through these platforms are not held in your name, nor are they owned by the platform. 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. Here are the custodians for a few different New Zealand fund managers: Like with Fund Platforms, the custodial arrangements mean that the Fund Manager doesn’t handle your money, nor do they own the underlying assets (e.g. If you are thinking about getting started in investing and looking for a thorough Sharesies Review, you are in the right place. There is a cost to this though. If you have $50 – $3000, it’s $1.50 per month. Yes, Sharesies is very safe to use. 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. Selling your shares on Sharesies, is as easy it is to buy. 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. Creation date: Not Available Investing in individual companies vs funds – What’s better? Enter the amount of shares you wish to sell, then click “Sell Shares”. Sharesies started when co-founder and CEO Brooke Roberts realised how hard it was for New Zealand consumers to create an investment portfolio. So don’t let this risk put you off from investing with a reputable provider. Anyone can have an investment portfolio. Helpful info on creating and managing a Kids Accounts with Sharesies. In theory yes – your money should be safe. In comes Sharesies, the perfect platform to help anyone build an investment portfolio without a minimum buy-in, or all the complicated jargon. It makes me want to keep putting money into it. A unique way of saying that you will share something with someone. 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. Sharesies makes me want to know more about managed funds, about the macro economy. Let’s get you started. The problem now is how you are going to get access to your investments if the Fund Platform isn’t around. Before Sharesies, Brooke Roberts worked at Kiwibank managing their saving and investment portfolio where she learned a lot about hedging and share pricing. If there are a whole pile of $10 sharsies trades that drive the SP up, is … Sign up. Brooke also worked at Xero where she learned about technology and how it can revolutionise the way businesses work. They act as an investor-facing facilitator, collecting buy/sell orders from investors, then passing these onto the custodian to execute. Sharesies is expensive for beginners How was Halifax unsafe? There are a few ways that Sharesies makes money. The information should never be used without first assessing your own personal and financial situation, and conducting your own research. to question whether the investment provider you want to use such as InvestNow and Sharesies is safe. New online investment platform, Sharesies has had $1million dollars invested through the platform, after just 8 weeks. Written by Renae Williams Updated over a week ago Withdrawing money from Sharesies If you're wanting to get your money out of Sharesies. When thinking about investing your hard earned money, it is understandable (and a good thing!) Recent examples of listed companies going bust in NZ are Pumpkin Patch, Wynyard Group, and CBL Insurance. Sharesies have just celebrated their first birthday and up until this point I have resisted having a play around with their product. Simply go to the investment fund or company you wish to sell shares in and press “Sell”. Sharesies allows people with a minimum of $5 to invest to put their money into Smartshares exchange-traded funds. They are not the cheapest in term of cost (they charge $30 annual admin fee) or the lowest investment requirement (Superlife can let you invest by $1). 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! If you have less than $50, it’s free. Your money is safe, as it is held separately by the Custodian. If the custodian cannot transfer your assets to you, then this should be an alarm bell. We’ve gone and researched Sharesies and created this solid article for you! How safe is Sharesies? From a transactional perspective this would be no different than if we simply decided to change the custodian at some point in the future. They have a custodial service that holds all of their customers money and non-listed funds which is separate from Sharesies Limited. 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. It's quick to sign up. 12 articles in this collection Written by Renae Williams and Natalie Bryant. Your order will then be placed. Due to its familiar social network design, the platform has been dubbed “the Facebook of porn". Sharesies is a simple to use investment platform that allows its users to manage their investment portfolio, from their phone. You may wish to consult with an authorised financial adviser before making any investment decisions. 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. If you’re investing in individual companies, that means you should buy multiple companies from different industries and different countries. The InvestNow platform’s legal entity is InvestNow Saving And Investment Service Limited. You can read more about Sharesies’ custodial arrangements here. Sharesies is a very simple service that buys from the NZX Smartshares portfolio, but only a subset of them. Host name: 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. Verify your address. Welcome to Sharesies. Sharesies is rolling out their trial run (a.k.a beta) investments options couple weeks ago. Join Sharesies' co-founders Sonya and Leighton—and some weeks, even a special guest or two! It is advised to do thorough research before investing in your chosen fund or company, as they may fall into different risk categories.
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