need a stock broker

[kenty]

hey all,

im going to sell some of my share and i need to know if any of you are, or know of a good stock broker that wont charge through the nose,

thanks all

[19andrew59]

CommSec or Etrade are easy and relatively cheap.

[kenty]

why must it be confusing as hell (since i have not done it before i guess, but e-trade makes no sense, and commsec requires you to be a member of the commonwealth bank :s

[Broms]

Kenty,

I've been involved in the industry for about 30 years....but no longer as a broker.

If you are just wanting to sell shares at a price you have determined, I suggest you go through the relatively easy process of opening an account at an online firm. My choice would be Bell Direct. The account opening process is not hard, it will take a little time and require you to provide some id documentation and more if your shares are held in a p/l company or smsf. Then you will provide the broker with the Security reference numbers for each of your stock holdings and they will transfer those holdings onto your account at that broker.

When it's all ready to go...maybe a week at the most...you can place your sell orders online at the price you choose, for a very reasonable fee, around $15 per trade. Once sold, the funds will be transferred into the bank account that you nominated.

If you're looking for advice from a stockbroker about what you should or should not sell, then that is a totally different matter and a more onerous process. To be perfectly honest, unless you have a portfolio of at least a few hundred thousand dollars...you aren't going to attract the attention of any but the most junior of brokers and compared to online broker execution, you will pay something like 1-2% with a minimum of $80-$100 per order.

If you're happy with that, shoot me a pm and I'll give you the contact details of a good young man who will help you out at the firm I was once a part owner.

Otherwise, go online.

[Hewie]

Broms summed it up perfectly.

If that doesnt suit or you have no joy PM me.

[kenty]

Another question I have 259 shares in bank of Queensland which I'm going to sell I understand there will be a brokerage fee, and I have owned these for well over 5 years and have had them in an reinvestment plan aka dont get any money but shares every now and again, anyway i want to know how much tax will I need to pay on these?

[kenty]

And the rate is around 7.80 a share