The information should never be used without first assessing your own personal and financial situation, and conducting your own research. You can either top up using a bank deposit, or using a debit or credit card. If you are completely new to share trading, also see this article about Building an Investment Portfolio in 2020. Log in Sign up. 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. 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). We have established that Custodians hold your money in the case of both Fund Platforms and Fund Managers. When thinking about investing your hard earned money, it is understandable (and a good thing!) 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. Steve Hansen bought 100 units in the Smartshares NZ Top 50 ETF through InvestNow. 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. 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. The liquidation of the fund’s assets, with the proceeds returned to investors as cash, or. Welcome to Sharesies. Recent examples of listed companies going bust in NZ are Pumpkin Patch, Wynyard Group, and CBL Insurance. Sharesies looks after your money and your investments in what is called a custodial system. 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. According to their website, Sharesies has six co-founders. Such measures are not a 100% guarantee that your money is protected against fraudulent activity. Enter the amount you wish to withdraw, your bank details and click Withdraw. The actual funds are all legit, and available through multiple sources. Written by Renae Williams Updated over a week ago Withdrawing money from Sharesies If you're wanting to get your money out of Sharesies. You can open a Sharesies account for free and you will get charged depending on the value of your portfolio. Yes, Sharesies is very safe to use. New online investment platform, Sharesies has had $1million dollars invested through the platform, after just 8 weeks. You can set up a Kids Account for someone under 18, but it will need to be linked to an adult’s account. If you have less than $50, it’s free. In order to best achieve this goal, it must first build a work environment that empowers its employees. Ask friends, colleagues, or an independent financial adviser for a second opinion. You can either buy a share (or a fraction of a share) directly, or a fund. 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). 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). Using the card option may have an additional card fee. Halifax Investment Services was an investment provider that allowed people to trade shares on a variety of platforms. Brooke also worked at Xero where she learned about technology and how it can revolutionise the way businesses work. But these are topics I hope to write more about in a future article. 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 does however provide a very good platform, that is arguably easier to use than its competitors platforms. Come find out Read reviews of the service in the news, on blogs, or on social media. There is a cost to this though. 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. Helpful info on creating and managing a Kids Accounts with Sharesies. Managing your Sharesies Account. 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. If anything were to happen to Sharesies Limited, your money should still be safe because it’s held separately in Sharesies Nominee Limited and the NZX Depository. 12 articles in this collection Written by Renae Williams and Natalie Bryant. Sharesies is available for anyone who is 16+ years of age, an NZ resident, and has an NZ bank account. Below that it is free. 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. It makes me want to be an goddamn intentional consumer. 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). I split my $50 high risk funds and made minuscule returns. It will then ask the amount you want to invest, once you have added the amount you wish to invest, click ‘Invest Now’. 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 the custodian cannot transfer your assets to you, then this should be an alarm bell. Adminis uses PwC, and Sharesies uses KPMG to perform their audits. Therefore this money can’t be used by the platform to run their business. It makes me want to keep putting money into it. Reputable fund managers use a custodian to hold investors’ money independently from the fund manager’s business. If the provider is offering something too good to be true, it probably is. It has become popular as the interface makes investing very easy compared to other trading platforms. As at April 2019, Sharesies has attracted over 41,000 investors who, together, have invested over $45m. Smartshares, Simplicity and Sharesies are just some of the options for index fund investing. However, Sharesies (beta) got a fantastic user interface and make investing as easy as shopping online. 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. Do the provider’s management have experience in the financial services industry (check their LinkedIn profiles)? You may wish to consult with an authorised financial adviser before making any investment decisions. 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. Custodians are also required to reconcile records of investors’ money daily. Sign up with this link, and you’ll get a bonus $5 in your account to invest! Sharesies do not allow off-market transfers out of their custody. One of the major signs, even including all around the world, is that the majority of stocks have significantly dropped in value since Covid-19 first hit. 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. 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. There are a few ways that Sharesies makes money. If the custodian went out of business (which in our case is Adminis) it would not impact on our clients’ assets. Brooke Roberts, Sonya Williams, Richard Clark, Martyn Smith, Leighton Roberts and Ben Crotty. I also haven’t covered how international investment providers like Vanguard or Hatch handle investors’ money. Sharesies is a company that aims to create the most financially empowered generation through its products. All NZX-listed exchange-traded funds (ETFs) and companies are held under Sharesies Nominee Limited’s name, and under … It is advised to do thorough research before investing in your chosen fund or company, as they may fall into different risk categories. Think of it as a portfolio in your pocket. Sharesies is expensive for beginners [this] demonstrates that you can ultimately get ownership and take control of your own assets and investments. Check the provider’s social media accounts. "We want all New Zealanders to know investing is an option for them. Once you have decided what you want to invest in, you can simply place your order within the Sharesies app. Sharesies is highly regulated. 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. So, is sharesies.nz safe? If you are thinking about getting started in investing and looking for a thorough Sharesies Review, you are in the right place. It's only been going since June, so how did startup Sharesies capture thousands of customers and millions of their hard-earned money? It is not able to do anything with the money unless you give the instruction to do so. Anyone can have an investment portfolio. Subscribe to get new Money King NZ articles in your inbox. Let’s be friends on Facebook, Twitter, or via email so you can keep up with the latest news and posts! Are they posting actively, and do the likes and comments on their page appear to be genuine? InvestNow’s custodian is Adminis Custodial Nominees Limited, run by a specialist Wellington based investment administration company, Adminis Limited. Then there is also information about the potential fees that come with the fund or company charges. 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. Please get in touch with us so you can get back to investing. 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. You can read more about Sharesies’ custodial arrangements here. Your investments could be sold, and the proceeds returned to you as cash. The content of this article is based on my personal opinion and should not be considered financial advice. Within 24 hours, you should see your investment show in your dashboard. What if the Custodian itself were to go out of business? In comes Sharesies, the perfect platform to help anyone build an investment portfolio without a minimum buy-in, or all the complicated jargon. 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. 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. Essentially it is a case of a platform going bust, and pulling their customers down with them. In the case of Fund Platforms, read their terms and conditions, and relevant help articles to determine what their custodial arrangements are (. 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. For example, Sharesies Limited cannot use investors’ money held in Sharesies Nominee Limited to pay their employees’ salaries. Enter the amount of shares you wish to sell, then click “Sell Shares”. This would result in the platform continuing in operation as usual, apart from the platform having new owners. So what is the role of the fund platform?With the custodian handling all the money, what does the fund platform actually do? There are laws and rules in place to make sure that we look after your money and investments. 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. Sign up. The answer to this is yes. The problem now is how you are going to get access to your investments if the Fund Platform isn’t around. What happens if the service I use goes out of business? If there are a whole pile of $10 sharsies trades that drive the SP up, is … 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. Tends to encourage over complication, most people are best off with the single most diverse, cheapest, fund they can find. 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. The Sharesies platform’s legal entity is Sharesies Limited. Sharesies is a Wellington-based company with 28 staff, which creates a product which helps young people begin their investment journeys. Too many New Zealanders were priced out of investing, she said. Yes, Sharesies is very safe to use. Sharesies allows people with a minimum of $5 to invest to put their money into Smartshares exchange-traded funds. shares and bonds) of their funds. Examples are Smartshares, AMP Capital, Simplicity, and JUNO. Investing in individual companies vs funds – What’s better? 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 funds Sharesies offers invest in shares. 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! Fund Managers/ETF issuers are the organisations responsible for managing the funds and ETFs you invest in. So don’t let this risk put you off from investing with a reputable provider. Your account is temporarily locked because we need some more information from you. Verify your address. For example, InvestNow’s Custodian Adminis Limited holds investors’ money in Adminis Custodial Nominees Limited. Found this article helpful? Your investment in Sharesies is as diversified as … You can read more about Sharesies’ custodial arrangements here. When you invest in a fund, your money goes straight to the Fund Manager’s Custodian. Again your funds are safe in this scenario because of the separation between the Custodian’s business and investors’ money. 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. Host name: 104.18.5.170. 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. 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. In addition, they carry out activities such as marketing the platform, onboarding new customers, supporting customers, and maintaining the platform. It's quick to sign up. Get in touch. 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 have just celebrated their first birthday and up until this point I have resisted having a play around with their product. Sharesies is rolling out their trial run (a.k.a beta) investments options couple weeks ago. 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. This system is scrutinised every year, so there are minimal chances of risks. It is easy to add money to your Sharesies wallet. Sharesies also claims to give the same investment opportunities from someone who invests $5, as someone who invests $500,000. 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! Definitely do start looking into index funds, they're … 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. Also in InvestNow’s case, the Custodian (Adminis) is totally independent and unrelated to the Fund Platform. Before Sharesies, Brooke Roberts worked at Kiwibank managing their saving and investment portfolio where she learned a lot about hedging and share pricing. Sharesies is a simple to use investment platform that allows its users to manage their investment portfolio, from their phone. Info on how long it takes for money to go from your bank account to your Sharesies Wallet. OP asked a question and it deserves a serious answer. From a transactional perspective this would be no different than if we simply decided to change the custodian at some point in the future. Action required! Once you have money in your account, it’s time to find a fund or company you wish to invest in. Sharesies | 18,678 followers on LinkedIn. The Sharesies platform’s legal entity is Sharesies Limited. Sharesies is an excellent stock trading platform which provides the investors with a large range of benefits and ease. Sharesies is a very simple service that buys from the NZX Smartshares portfolio, but only a subset of them. Ever since Covid-19 reached New Zealand, we’ve been facing some interesting times in terms of business. How safe is Sharesies? 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. Sharesies.nz informations. Ready to sign up? Sharesies was originally founded by Brooke Roberts in 2016, and was first registered on the New Zealand Companies Register in May 2017. Section 7 of each PDS should show who the fund’s custodian, supervisor, and auditor are. In theory yes – your money should be safe. How was Halifax unsafe? They can’t do anything with your money or investments without you telling them to. They act as an investor-facing facilitator, collecting buy/sell orders from investors, then passing these onto the custodian to execute. Sharesies started when co-founder and CEO Brooke Roberts realised how hard it was for New Zealand consumers to create an investment portfolio. This is a legal requirement and the system is audited every year. Investors’ money is never touched by the Fund Platform. They have a custodial service that holds all of their customers money and non-listed funds which is separate from Sharesies Limited. If I buy into Sharesies, am I buying a share on the sharemarket? 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. Creation date: Not Available I'm sure Sharesies are pretty safe. Could this service run away with my money? 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. The transfer of your fund’s management to another Fund Manager. For Fund Managers, read their funds’ Product Disclosure Statement (PDS). Funds are also independently audited. Sharesies charges a monthly subscription fee if your portfolio is worth more than $50. Licensed New Zealand Fund Managers all have an independent Supervisor. Investors’ money is held in a seperate legal entity from the Fund Platform, with investors being the beneficial owners of that money. There is also an annual option for $30 per year. Keen to start building your investment portfolio with Sharesies? 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. 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. 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. Founder Brooke Anderson said Sharesies was a wealth development platform, not a wealth management one. 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. Simply go to the investment fund or company you wish to sell shares in and press “Sell”. Custodians hold investors’ money in a dedicated entity that’s seperate from the actual business of the Custodian. Many Fund Managers also outsource administrative functions such as fund accounting, pricing, and the fund’s registry to other providers. They have a custodial service that holds all of their customers money and non-listed funds which is separate from Sharesies Limited. The WoT scorecard provides crowdsourced online ratings & reviews for sharesies.nz regarding its safety and security. 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. If you have $50 – $3000, it’s $1.50 per month. If you’re investing in individual companies, that means you should buy multiple companies from different industries and different countries. We spoke to co-founder & CEO Brooke Anderson to find out more. Inside the Sharesies app, you will have access to information about the company, the price history and a risk and return indicator. The website's founders claim they built Sharesome for adult content creators and to offer them tools to grow their audience. Sharesies actually let you invest as little $5. Once you have found an investment you wish you invest in, simply click ‘Invest’. Your money is also safe in this scenario, given the separation between the Fund Manager and investor’s money. This reflects that the custodial account they hold assets through (Adminis Custodial Nominees Limited) is a completely separate entity to their actual business. You’ll need to be at least 16 years of age and have an NZ bank account. So what are the custodial arrangements that InvestNow and Sharesies use? Custodians are required to be independently audited annually, and must send the auditor’s report to the Financial Markets Authority (FMA). Right now investors’ funds are locked up as liquidation procedures are carried out, with investors facing a 7-15% loss in their investment. Let’s get you started. Sharesies $1million Media Release. They can’t do anything with your money or investments without you telling them to. Selling your shares on Sharesies, is as easy it is to buy. 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. Due to its familiar social network design, the platform has been dubbed “the Facebook of porn". They’ve improved access to investing by reducing cost, removing jargon, and making investing fun. While this is bad for business, this has also created a new opportunity for people looking at building an investment portfolio. 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. ( https://www.smartshares.co.nz ). 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. The underlying assets (e.g. to question whether the investment provider you want to use such as InvestNow and Sharesies is safe. 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. IP: 104.18.5.170. Close. You can check out their… Making investing easy. 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. How long to top up your Sharesies Wallet. 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. Learn from other people. The InvestNow platform’s legal entity is InvestNow Saving And Investment Service Limited. I've got their invitation recently and checked out their offerings. Instead they are held in the name of a Custodian, but on your behalf, with you as the beneficial owner of the investment. In addition, money held by the Custodian can’t be touched by creditors. A unique way of saying that you will share something with someone. 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. 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. We’ve gone and researched Sharesies and created this solid article for you! 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! They charge an admin fee, but have a nicer front end than NZX and are a little more flexible. Shares allows you to invest in three different types of investments. An administrator (for example, Custodian Adminis, or the liquidator of Sharesies) would likely work to achieve the best outcome for investors. 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. Brooke got together with her team of co-founders and decided to create a platform that was as easy as online shopping, and was fun. Sharesome is an adult social media website founded in 2018 and based in Cyprus. Helpful info about your Sharesies Account: personal details, password, Sharesies subscription, etc. Another business could take over the InvestNow or Sharesies platform and the relationships with their customers. If you have over $3000+ it is $3 per month. The investments you buy through these platforms are not held in your name, nor are they owned by the platform. Your order will then be placed. Sharesies makes me want to know more about managed funds, about the macro economy. Check if Sharesies.nz is legit or scam, Sharesies.nz reputation, customers reviews, website popularity, users comments and discussions. Therefore it’s important to diversify your investment portfolio, so your whole portfolio isn’t wiped out if your company goes down the toilet. Your money is safe, as it is held separately by the Custodian. Get $5 cash with my Sharesies … 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. Sharesies' purpose is to financially empower the next generation by giving someone with $5 the same investment opportunities as someone with $500,000. 🍍 | At Sharesies, we want someone with $5 to have the same investment opportunities as someone with $500,000. shares and bonds) of a fund are also unaffected as they are held by the Custodian. Managed funds, Exchange traded funds (ETFs) and Companies. Sharesies makes it easy to start investing—no jargon, no minimum buy-in, and all online. 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! 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