Making a one-off share trade probably isn’t part of your day-to-day schedule. If it were, it wouldn’t be a one-off sale. Instead, these types of sales are generally made by people who have little to no knowledge of how the stock market works. Perhaps they didn’t even buy shares but, rather, they inherited them. If you find yourself in this situation, don’t worry. We are here to help guide you through the process.
Find a Broker
Before you jump straight into selling shares, it would be a wise decision to find someone who’s job it is to work with stocks, bonds, and company shares. They’ll be able to share their knowledge of markets and the selling process to save you from making a rash decision. There are a couple different options when it comes to brokers. You have online brokers and full-service brokers. If you’re looking for simplicity and a quick trade, we recommend an online broker such as sellmyshares.com. They’re entire purpose is to help shift shares.
Provide Your Information
When making a share sale, you’ll need to provide two pieces of information. First, you will need your shareholder reference number. This can likely be found on a holdings or dividend statement. Providing this number will prove that you are the owner of the shares you wish to sell. You will also need proof of your identity. Sharing a photo of your passport or drivers license should be enough to prove you are who you say you are.
Submit an Application and Wait!
Once you’ve compiled all your information, the next step is to submit an application for sale. Your broker will confirm your shares with the registry and then check their value against the best market price. Market prices fluctuate constantly so finding the sum you’ll make isn’t exactly an accurate science. That being said, a broker should be able to give you a round-about estimate.
Collect Your Money
Once your shares have sold, you’ll receive a confirmation with the value you’ll receive. After a three-day clearing house period, you should receive either a cheque or a wire transfer in your bank account. This will depend on which option you chose in your application. And that’s it! Making a one-off share sale really is that simple. With the help of a broker, all you have to do is submit some basic information and they’ll take care of the rest for you. Now’s your chance to make some money off those old shares!