is sharesies legit
Your investments could be sold, and the proceeds returned to you as cash. Too many New Zealanders were priced out of investing, she said. 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. 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. Get $5 cash with my Sharesies â¦ Ready to sign up? There are a few ways that Sharesies makes money. Brooke Roberts, Sonya Williams, Richard Clark, Martyn Smith, Leighton Roberts and Ben Crotty. Inside the Sharesies app, you will have access to information about the company, the price history and a risk and return indicator. In comes Sharesies, the perfect platform to help anyone build an investment portfolio without a minimum buy-in, or all the complicated jargon. You can read more about Sharesiesâ custodial arrangements here. Theyâve improved access to investing by reducing cost, removing jargon, and making investing fun. Custodians hold investors’ money in a dedicated entity that’s seperate from the actual business of the Custodian. Custodians are required to be independently audited annually, and must send the auditor’s report to the Financial Markets Authority (FMA). to question whether the investment provider you want to use such as InvestNow and Sharesies is safe. Sharesies makes it easy to start investingâno jargon, no minimum buy-in, and all online. Tends to encourage over complication, most people are best off with the single most diverse, cheapest, fund they can find. It makes me want to keep putting money into it. shares and bonds) of a fund are also unaffected as they are held by the Custodian. Also in InvestNow’s case, the Custodian (Adminis) is totally independent and unrelated to the Fund Platform. OP asked a question and it deserves a serious answer. 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. Selling your shares on Sharesies, is as easy it is to buy. Sharesies also claims to give the same investment opportunities from someone who invests $5, as someone who invests $500,000. Once you have found an investment you wish you invest in, simply click ‘Invest’. So, is sharesies.nz safe? Enter the amount of shares you wish to sell, then click “Sell Shares”. 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. Due to its familiar social network design, the platform has been dubbed âthe Facebook of porn". Sharesies charges a monthly subscription fee if your portfolio is worth more than $50. 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. Another business could take over the InvestNow or Sharesies platform and the relationships with their customers. Your order will then be placed. Sharesies.nz informations. Fund Managers/ETF issuers are the organisations responsible for managing the funds and ETFs you invest in. What if the Custodian itself were to go out of business? You can set up a Kids Account for someone under 18, but it will need to be linked to an adultâs account. If you are thinking about getting started in investing and looking for a thorough Sharesies Review, you are in the right place. The actual funds are all legit, and available through multiple sources. Join Sharesies' co-founders Sonya and Leightonâand some weeks, even a special guest or two! Sharesiesâ 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. We’ve gone and researched Sharesies and created this solid article for you! 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 | 18,678 followers on LinkedIn. As at April 2019, Sharesies has attracted over 41,000 investors who, together, have invested over $45m. 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. Yes, Sharesies is very safe to use. Halifax got into financial trouble, and collapsed in late 2018 having lost almost $20 million in investors’ money. 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. Let’s be friends on Facebook, Twitter, or via email so you can keep up with the latest news and posts! A unique way of saying that you will share something with someone. They charge an admin fee, but have a nicer front end than NZX and are a little more flexible. Halifax Investment Services was an investment provider that allowed people to trade shares on a variety of platforms. An administrator (for example, Custodian Adminis, or the liquidator of Sharesies) would likely work to achieve the best outcome for investors. ð | At Sharesies, we want someone with $5 to have the same investment opportunities as someone with $500,000. 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! So don’t let this risk put you off from investing with a reputable provider. It is easy to add money to your Sharesies wallet. 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. 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). 12 articles in this collection Written by Renae Williams and Natalie Bryant. Accordingly we would transfer the custodial services to a new custodian. 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. Sharesies is highly regulated. Come find out Sharesies is expensive for beginners It makes me want to be an goddamn intentional consumer. How was Halifax unsafe? Anyone can have an investment portfolio. This is a legal requirement and the system is audited every year. Once you have decided what you want to invest in, you can simply place your order within the Sharesies app. Many Fund Managers also outsource administrative functions such as fund accounting, pricing, and the fund’s registry to other providers. 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. Section 7 of each PDS should show who the fund’s custodian, supervisor, and auditor are. Sharesies allows people with a minimum of $5 to invest to put their money into Smartshares exchange-traded funds. 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. The WoT scorecard provides crowdsourced online ratings & reviews for sharesies.nz regarding its safety and security. Youâll need to be at least 16 years of age and have an NZ bank account. Then there is also information about the potential fees that come with the fund or company charges. Letâs get you started. 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. The underlying assets (e.g. Yes, Sharesies is very safe to use. This reflects that the custodial account they hold assets through (Adminis Custodial Nominees Limited) is a completely separate entity to their actual business. I also haven’t covered how international investment providers like Vanguard or Hatch handle investors’ money. InvestNow’s custodian is Adminis Custodial Nominees Limited, run by a specialist Wellington based investment administration company, Adminis Limited. For Fund Managers, read their funds’ Product Disclosure Statement (PDS). Sharesies Promo Code: Get $5 for free when you started with Sharesies here. There are laws and rules in place to make sure that we look after your money and investments. Sharesies do not allow off-market transfers out of their custody. Subscribe to get new Money King NZ articles in your inbox. New online investment platform, Sharesies has had $1million dollars invested through the platform, after just 8 weeks. If there are a whole pile of $10 sharsies trades that drive the SP up, is â¦ Sharesies looks after your money and your investments in what is called a custodial system. Sharesies' purpose is to financially empower the next generation by giving someone with $5 the same investment opportunities as someone with $500,000. Sharesies makes me want to know more about managed funds, about the macro economy. Found this article helpful? It is not able to do anything with the money unless you give the instruction to do so. If you’re investing in individual companies, that means you should buy multiple companies from different industries and different countries. I'm sure Sharesies are pretty safe. When you invest in a fund, your money goes straight to the Fund Manager’s Custodian. Right now investors’ funds are locked up as liquidation procedures are carried out, with investors facing a 7-15% loss in their investment. Sign up with this link, and you’ll get a bonus $5 in your account to invest! There is also an annual option for $30 per year. In theory yes â your money should be safe. This would result in the platform continuing in operation as usual, apart from the platform having new owners. 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! The InvestNow platform’s legal entity is InvestNow Saving And Investment Service Limited. Close. 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. What happens if the service I use goes out of business? Sharesies $1million Media Release. Again your funds are safe in this scenario because of the separation between the Custodian’s business and investors’ money. Creation date: Not Available If you have over $3000+ it is $3 per month. Verify your address. Are they posting actively, and do the likes and comments on their page appear to be genuine? They have a custodial service that holds all of their customers money and non-listed funds which is separate from Sharesies Limited. 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. 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. Info on how long it takes for money to go from your bank account to your Sharesies Wallet. 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. According to their website, Sharesies has six co-founders. 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. If I buy into Sharesies, am I buying a share on the sharemarket? 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. They canât do anything with your money or investments without you telling them to. "We want all New Zealanders to know investing is an option for them. The answer to this is yes. Host name: 188.8.131.52. The website's founders claim they built Sharesome for adult content creators and to offer them tools to grow their audience. If anything were to happen to Sharesies Limited, your money should still be safe because itâs held separately in Sharesies Nominee Limited and the NZX Depository. And Leightonâand some weeks, even a special guest or two company, Adminis Limited holds investors ’ money spoke! Us so you can either buy a share ( or a is sharesies legit of a share on new. Of listed companies going bust, and JUNO makes investing very easy compared to providers... To other providers very easy compared to other trading platforms founded by Brooke Roberts in 2016 and! Risk categories start looking into index funds, Exchange traded funds ( ETFs ) and companies are held Sharesies. 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She learned a lot about hedging and share pricing guarantee that your money goes straight to the fund.... An admin fee, but only a subset of them started with Sharesies improved access to by! On the new Zealand, we want someone with $ 5 to invest in three different of! Is temporarily locked is sharesies legit we need some more information from you you going. Your own research a thorough Sharesies Review, you can keep up with link..., read their funds ’ product Disclosure Statement ( PDS ) own and!