They have a custodial service that holds all of their customers money and non-listed funds which is separate from Sharesies Limited. The transfer of your fund’s management to another Fund Manager. Sign up with this link, and you’ll get a bonus $5 in your account to invest! I'm sure Sharesies are pretty safe. You can check out their… Before Sharesies, Brooke Roberts worked at Kiwibank managing their saving and investment portfolio where she learned a lot about hedging and share pricing. Below that it is free. According to their website, Sharesies has six co-founders. Sign up. Sharesies have just celebrated their first birthday and up until this point I have resisted having a play around with their product. New online investment platform, Sharesies has had $1million dollars invested through the platform, after just 8 weeks. Custodians are required to be independently audited annually, and must send the auditor’s report to the Financial Markets Authority (FMA). The InvestNow platform’s legal entity is InvestNow Saving And Investment Service Limited. Investors’ money is held in a seperate legal entity from the Fund Platform, with investors being the beneficial owners of that money. Sharesies is highly regulated. We’ve gone and researched Sharesies and created this solid article for you! What if the Custodian itself were to go out of business? Keen to start building your investment portfolio with Sharesies? 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. Anyone can have an investment portfolio. 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. In comes Sharesies, the perfect platform to help anyone build an investment portfolio without a minimum buy-in, or all the complicated jargon. It is advised to do thorough research before investing in your chosen fund or company, as they may fall into different risk categories. Simply go to the investment fund or company you wish to sell shares in and press “Sell”. It makes me want to keep putting money into it. Therefore it’s important to diversify your investment portfolio, so your whole portfolio isn’t wiped out if your company goes down the toilet. All NZX-listed exchange-traded funds (ETFs) and companies are held under Sharesies Nominee Limited’s name, and under … The liquidation of the fund’s assets, with the proceeds returned to investors as cash, or. 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! 🍍 | At Sharesies, we want someone with $5 to have the same investment opportunities as someone with $500,000. You can read more about Sharesies’ custodial arrangements here. Licensed New Zealand Fund Managers all have an independent Supervisor. 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). Then there is also information about the potential fees that come with the fund or company charges. They’ve improved access to investing by reducing cost, removing jargon, and making investing fun. This system is scrutinised every year, so there are minimal chances of risks. 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. 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. You can either top up using a bank deposit, or using a debit or credit card. For Fund Managers, read their funds’ Product Disclosure Statement (PDS). 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. How was Halifax unsafe? If the provider is offering something too good to be true, it probably is. It is easy to add money to your Sharesies wallet. Once you have decided what you want to invest in, you can simply place your order within the Sharesies app. You can read more about Sharesies’ custodial arrangements here. 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. What happens if the service I use goes out of business? 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. Examples are Smartshares, AMP Capital, Simplicity, and JUNO. Sharesies is expensive for beginners Action required! 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. Found this article helpful? 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. In theory yes – your money should be safe. Also in InvestNow’s case, the Custodian (Adminis) is totally independent and unrelated to the Fund Platform. If the custodian went out of business (which in our case is Adminis) it would not impact on our clients’ assets. 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. Sharesies is available for anyone who is 16+ years of age, an NZ resident, and has an NZ bank account. Read reviews of the service in the news, on blogs, or on social media. In addition, money held by the Custodian can’t be touched by creditors. While custodians are not a bulletproof solution, It demonstrates the importance of choosing a platform that does not handle your money and uses an independent custodian. Your investment in Sharesies is as diversified as … Halifax got into financial trouble, and collapsed in late 2018 having lost almost $20 million in investors’ money. You’ll need to be at least 16 years of age and have an NZ bank account. Selling your shares on Sharesies, is as easy it is to buy. Check the provider’s social media accounts. Common concerns include: Thankfully local investment providers have measures that help keep your money safe, many of which are required by strict New Zealand regulations. The investments you buy through these platforms are not held in your name, nor are they owned by the platform. Once you have found an investment you wish you invest in, simply click ‘Invest’. Sharesies makes me want to know more about managed funds, about the macro economy. Sharesies also claims to give the same investment opportunities from someone who invests $5, as someone who invests $500,000. So don’t let this risk put you off from investing with a reputable provider. Could this service run away with my money? Custodians are also required to reconcile records of investors’ money daily. Within 24 hours, you should see your investment show in your dashboard. 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. Again your funds are safe in this scenario because of the separation between the Custodian’s business and investors’ money. Sharesies was originally founded by Brooke Roberts in 2016, and was first registered on the New Zealand Companies Register in May 2017. It's only been going since June, so how did startup Sharesies capture thousands of customers and millions of their hard-earned money? In addition, they carry out activities such as marketing the platform, onboarding new customers, supporting customers, and maintaining the platform. 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. 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. You can open a Sharesies account for free and you will get charged depending on the value of your portfolio. You can either buy a share (or a fraction of a share) directly, or a fund. Let’s get you started. 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. The WoT scorecard provides crowdsourced online ratings & reviews for sharesies.nz regarding its safety and security. OP asked a question and it deserves a serious answer. As at April 2019, Sharesies has attracted over 41,000 investors who, together, have invested over $45m. Ask friends, colleagues, or an independent financial adviser for a second opinion. When you invest in a fund, your money goes straight to the Fund Manager’s Custodian. 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! Think of it as a portfolio in your pocket. The problem now is how you are going to get access to your investments if the Fund Platform isn’t around. Investing in individual companies vs funds – What’s better? We have established that Custodians hold your money in the case of both Fund Platforms and Fund Managers. Sharesies actually let you invest as little $5. Custodians hold investors’ money in a dedicated entity that’s seperate from the actual business of the Custodian. How safe is Sharesies? Get in touch. Inside the Sharesies app, you will have access to information about the company, the price history and a risk and return indicator. An administrator (for example, Custodian Adminis, or the liquidator of Sharesies) would likely work to achieve the best outcome for investors. 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. Learn from other people. Yes, Sharesies is very safe to use. However, Sharesies (beta) got a fantastic user interface and make investing as easy as shopping online. They charge an admin fee, but have a nicer front end than NZX and are a little more flexible. If you are completely new to share trading, also see this article about Building an Investment Portfolio in 2020. Sharesies is rolling out their trial run (a.k.a beta) investments options couple weeks ago. If the custodian cannot transfer your assets to you, then this should be an alarm bell. Right now investors’ funds are locked up as liquidation procedures are carried out, with investors facing a 7-15% loss in their investment. Info on how long it takes for money to go from your bank account to your Sharesies Wallet. The Sharesies platform’s legal entity is Sharesies Limited. 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. 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. Subscribe to get new Money King NZ articles in your inbox. Recent examples of listed companies going bust in NZ are Pumpkin Patch, Wynyard Group, and CBL Insurance. 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. 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. 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. Come find out Brooke Roberts, Sonya Williams, Richard Clark, Martyn Smith, Leighton Roberts and Ben Crotty. 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. You may wish to consult with an authorised financial adviser before making any investment decisions. The content of this article is based on my personal opinion and should not be considered financial advice. For example, InvestNow’s Custodian Adminis Limited holds investors’ money in Adminis Custodial Nominees Limited. Creation date: Not Available But these are topics I hope to write more about in a future article. Sharesies | 18,678 followers on LinkedIn. Sharesies charges a monthly subscription fee if your portfolio is worth more than $50. Sharesies is a very simple service that buys from the NZX Smartshares portfolio, but only a subset of them. Ready to sign up? Sharesies is an excellent stock trading platform which provides the investors with a large range of benefits and ease. ( https://www.smartshares.co.nz ). Are they posting actively, and do the likes and comments on their page appear to be genuine? While this is bad for business, this has also created a new opportunity for people looking at building an investment portfolio. There is also an annual option for $30 per year. Shares allows you to invest in three different types of investments. 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. Please get in touch with us so you can get back to investing. From a transactional perspective this would be no different than if we simply decided to change the custodian at some point in the future. Halifax Investment Services was an investment provider that allowed people to trade shares on a variety of platforms. 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. To get access to your money, your Fund Platform or Fund Manager would switch their custodial services to a new Custodian, after which business would carry on as usual. You can set up a Kids Account for someone under 18, but it will need to be linked to an adult’s account. Sharesome is an adult social media website founded in 2018 and based in Cyprus. 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. If you’re investing in individual companies, that means you should buy multiple companies from different industries and different countries. 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. It's quick to sign up. Sharesies does however provide a very good platform, that is arguably easier to use than its competitors platforms. Once you have money in your account, it’s time to find a fund or company you wish to invest in. 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. 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. I've got their invitation recently and checked out their offerings. Sharesies started when co-founder and CEO Brooke Roberts realised how hard it was for New Zealand consumers to create an investment portfolio. Your investments could be sold, and the proceeds returned to you as cash. [this] demonstrates that you can ultimately get ownership and take control of your own assets and investments. 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. Helpful info about your Sharesies Account: personal details, password, Sharesies subscription, etc. IP: 104.18.5.170. Your money is also safe in this scenario, given the separation between the Fund Manager and investor’s money. Sharesies $1million Media Release. They act as an investor-facing facilitator, collecting buy/sell orders from investors, then passing these onto the custodian to execute. There are a few ways that Sharesies makes money. Sharesies.nz informations. Accordingly we would transfer the custodial services to a new custodian. 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. 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. It has become popular as the interface makes investing very easy compared to other trading platforms. If you have less than $50, it’s free. Close. Investors’ money is never touched by the Fund Platform. How long to top up your Sharesies Wallet. Section 7 of each PDS should show who the fund’s custodian, supervisor, and auditor are. The information should never be used without first assessing your own personal and financial situation, and conducting your own research. Log in Sign up. Your account is temporarily locked because we need some more information from you. They have a custodial service that holds all of their customers money and non-listed funds which is separate from 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! InvestNow’s custodian is Adminis Custodial Nominees Limited, run by a specialist Wellington based investment administration company, Adminis Limited. Tends to encourage over complication, most people are best off with the single most diverse, cheapest, fund they can find. This would result in the platform continuing in operation as usual, apart from the platform having new owners. Each fund or company will have a section titled “How you can make money” which tells you ways this investment could make you money. Sharesies do not allow off-market transfers out of their custody. I also haven’t covered how international investment providers like Vanguard or Hatch handle investors’ money. We spoke to co-founder & CEO Brooke Anderson to find out more. Sharesies is not low cost for new investors, as can be seen in my investing series that compares the cost of the biggest index funds in NZ. For example, when making a deposit with InvestNow, the money goes to the Custodian’s (Adminis’) bank account: Subsequently, when you invest into a fund, your money goes straight from the Custodian to the Fund Manager. 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. If you have over $3000+ it is $3 per month. They can’t do anything with your money or investments without you telling them to. Managed funds, Exchange traded funds (ETFs) and Companies. Founder Brooke Anderson said Sharesies was a wealth development platform, not a wealth management one. If you have $50 – $3000, it’s $1.50 per month. For example, Sharesies Limited cannot use investors’ money held in Sharesies Nominee Limited to pay their employees’ salaries. Do the provider’s management have experience in the financial services industry (check their LinkedIn profiles)? Sharesies Promo Code: Get $5 for free when you started with Sharesies here. Join Sharesies' co-founders Sonya and Leighton—and some weeks, even a special guest or two! The underlying assets (e.g. Many Fund Managers also outsource administrative functions such as fund accounting, pricing, and the fund’s registry to other providers. Managing your Sharesies Account. There are laws and rules in place to make sure that we look after your money and investments. Written by Renae Williams Updated over a week ago Withdrawing money from Sharesies If you're wanting to get your money out of Sharesies. Definitely do start looking into index funds, they're … 12 articles in this collection Written by Renae Williams and Natalie Bryant. Helpful info on creating and managing a Kids Accounts with Sharesies. Host name: 104.18.5.170. 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. Reputable fund managers use a custodian to hold investors’ money independently from the fund manager’s 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. Verify your address. 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. Such measures are not a 100% guarantee that your money is protected against fraudulent activity. Get $5 cash with my Sharesies … If I buy into Sharesies, am I buying a share on the sharemarket? The website's founders claim they built Sharesome for adult content creators and to offer them tools to grow their audience. Sharesies makes it easy to start investing—no jargon, no minimum buy-in, and all online. shares and bonds) of a fund are also unaffected as they are held by the Custodian. Instead they are held in the name of a Custodian, but on your behalf, with you as the beneficial owner of the investment. The answer to this is yes. 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. So, is sharesies.nz safe? Enter the amount you wish to withdraw, your bank details and click Withdraw. The Sharesies platform’s legal entity is Sharesies Limited. Therefore this money can’t be used by the platform to run their business. This is a legal requirement and the system is audited every year. They can’t do anything with your money or investments without you telling them to. Let’s be friends on Facebook, Twitter, or via email so you can keep up with the latest news and posts! 4 things to know about investing in Equity Crowdfunding, ← What I’ve been investing in – October 2019, Smartshares vs Simplicity vs AMP vs Kernel – NZ Share Index Fund shootout →, What I’ve been investing in – February 2020, Rights issues, share buybacks, and acquisitions – 5 things to know about Corporate Actions, Property vs Shares – The pros and cons of buying residential property, Due diligence on shares – How I evaluate companies before investing, How to invest in Australian shares from New Zealand, What I’ve been investing in – January 2020. 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. 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). So what is the role of the fund platform?With the custodian handling all the money, what does the fund platform actually do? Fund platforms like InvestNow and Sharesies provide a service through which you can buy a large selection of funds (and in Sharesies’ case shares in individual companies). It makes me want to be an goddamn intentional consumer. "We want all New Zealanders to know investing is an option for them. 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. Get new investing articles in your inbox. In order to best achieve this goal, it must first build a work environment that empowers its employees. 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. It is not able to do anything with the money unless you give the instruction to do so. Steve Hansen bought 100 units in the Smartshares NZ Top 50 ETF through InvestNow. 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. Sharesies allows people with a minimum of $5 to invest to put their money into Smartshares exchange-traded funds. Due to its familiar social network design, the platform has been dubbed “the Facebook of porn". When thinking about investing your hard earned money, it is understandable (and a good thing!) Too many New Zealanders were priced out of investing, she said. 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. Your order will then be placed. Sharesies is a company that aims to create the most financially empowered generation through its products. Fund Managers/ETF issuers are the organisations responsible for managing the funds and ETFs you invest in. Sharesies' purpose is to financially empower the next generation by giving someone with $5 the same investment opportunities as someone with $500,000. Sharesies is a simple to use investment platform that allows its users to manage their investment portfolio, from their phone. shares and bonds) of their funds. In the case of Fund Platforms, read their terms and conditions, and relevant help articles to determine what their custodial arrangements are (. 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