Founder Brooke Anderson said Sharesies was a wealth development platform, not a wealth management one. Another business could take over the InvestNow or Sharesies platform and the relationships with their customers. If you are thinking about getting started in investing and looking for a thorough Sharesies Review, you are in the right place. Get new investing articles in your inbox. If you are completely new to share trading, also see this article about Building an Investment Portfolio in 2020. All NZX-listed exchange-traded funds (ETFs) and companies are held under Sharesies Nominee Limited’s name, and under … 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 started when co-founder and CEO Brooke Roberts realised how hard it was for New Zealand consumers to create an investment portfolio. Right now investors’ funds are locked up as liquidation procedures are carried out, with investors facing a 7-15% loss in their investment. Welcome to Sharesies. The InvestNow platform’s legal entity is InvestNow Saving And Investment Service Limited. 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. Therefore this money can’t be used by the platform to run their business. Halifax got into financial trouble, and collapsed in late 2018 having lost almost $20 million in investors’ money. There are laws and rules in place to make sure that we look after your money and investments. 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. shares and bonds) of their funds. 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. 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. Let’s get you started. OP asked a question and it deserves a serious answer. They can’t do anything with your money or investments without you telling them to. Found this article helpful? Sharesies do not allow off-market transfers out of their custody. The problem now is how you are going to get access to your investments if the Fund Platform isn’t around. 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. Enter the amount you wish to withdraw, your bank details and click Withdraw. Therefore it’s important to diversify your investment portfolio, so your whole portfolio isn’t wiped out if your company goes down the toilet. A unique way of saying that you will share something with someone. Investing in individual companies vs funds – What’s better? 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. I also haven’t covered how international investment providers like Vanguard or Hatch handle investors’ money. 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 allows people with a minimum of $5 to invest to put their money into Smartshares exchange-traded funds. Your money is safe, as it is held separately by the Custodian. IP: 104.18.5.170. Sign up. It is advised to do thorough research before investing in your chosen fund or company, as they may fall into different risk categories. Yes, Sharesies is very safe to use. Brooke Roberts, Sonya Williams, Richard Clark, Martyn Smith, Leighton Roberts and Ben Crotty. It's quick to sign up. Info on how long it takes for money to go from your bank account to your Sharesies Wallet. So don’t let this risk put you off from investing with a reputable provider. You’ll need to be at least 16 years of age and have an NZ bank account. New online investment platform, Sharesies has had $1million dollars invested through the platform, after just 8 weeks. Your investment in Sharesies is as diversified as … Helpful info on creating and managing a Kids Accounts with Sharesies. 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). 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 account is temporarily locked because we need some more information from you. Halifax Investment Services was an investment provider that allowed people to trade shares on a variety of platforms. There is a cost to this though. For example, InvestNow’s Custodian Adminis Limited holds investors’ money in Adminis Custodial Nominees Limited. In comes Sharesies, the perfect platform to help anyone build an investment portfolio without a minimum buy-in, or all the complicated jargon. In the case of Fund Platforms, read their terms and conditions, and relevant help articles to determine what their custodial arrangements are (. Check the provider’s social media accounts. Licensed New Zealand Fund Managers all have an independent Supervisor. 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. Shares allows you to invest in three different types of investments. 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. Learn from other people. Sharesies have just celebrated their first birthday and up until this point I have resisted having a play around with their product. Sharesies is expensive for beginners So, is sharesies.nz safe? Once you have money in your account, it’s time to find a fund or company you wish to invest in. Section 7 of each PDS should show who the fund’s custodian, supervisor, and auditor are. Steve Hansen bought 100 units in the Smartshares NZ Top 50 ETF through InvestNow. 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). Let’s be friends on Facebook, Twitter, or via email so you can keep up with the latest news and posts! So what are the custodial arrangements that InvestNow and Sharesies use? 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. Check if Sharesies.nz is legit or scam, Sharesies.nz reputation, customers reviews, website popularity, users comments and discussions. to question whether the investment provider you want to use such as InvestNow and Sharesies is safe. How safe is Sharesies? When you invest in a fund, your money goes straight to the Fund Manager’s Custodian. Such measures are not a 100% guarantee that your money is protected against fraudulent activity. Too many New Zealanders were priced out of investing, she said. 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. 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. The answer to this is yes. Using the card option may have an additional card fee. Think of it as a portfolio in your pocket. The underlying assets (e.g. It makes me want to keep putting money into it. Come find out Yes, Sharesies is very safe to use. You can read more about Sharesies’ custodial arrangements here. Join Sharesies' co-founders Sonya and Leighton—and some weeks, even a special guest or two! Ready to sign up? It will then ask the amount you want to invest, once you have added the amount you wish to invest, click ‘Invest Now’. Sharesies' purpose is to financially empower the next generation by giving someone with $5 the same investment opportunities as someone with $500,000. If the provider is offering something too good to be true, it probably is. Do the provider’s management have experience in the financial services industry (check their LinkedIn profiles)? shares and bonds) of a fund are also unaffected as they are held by the Custodian. [this] demonstrates that you can ultimately get ownership and take control of your own assets and investments. 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. 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. Anyone can have an investment portfolio. Smartshares, Simplicity and Sharesies are just some of the options for index fund investing. They’ve improved access to investing by reducing cost, removing jargon, and making investing fun. Your investments could be sold, and the proceeds returned to you as cash. 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. If I buy into Sharesies, am I buying a share on the sharemarket? Action required! How was Halifax unsafe? Sharesies makes me want to know more about managed funds, about the macro economy. 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. 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. Sharesome is an adult social media website founded in 2018 and based in Cyprus. But these are topics I hope to write more about in a future article. Close. Written by Renae Williams Updated over a week ago Withdrawing money from Sharesies If you're wanting to get your money out of Sharesies. Reputable fund managers use a custodian to hold investors’ money independently from the fund manager’s business. Sign up with this link, and you’ll get a bonus $5 in your account to invest! 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! Custodians are required to be independently audited annually, and must send the auditor’s report to the Financial Markets Authority (FMA). 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. You can either top up using a bank deposit, or using a debit or credit card. Managing your Sharesies Account. Brooke also worked at Xero where she learned about technology and how it can revolutionise the way businesses work. If there are a whole pile of $10 sharsies trades that drive the SP up, is … 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. Recent examples of listed companies going bust in NZ are Pumpkin Patch, Wynyard Group, and CBL Insurance. Accordingly we would transfer the custodial services to a new custodian. For Fund Managers, read their funds’ Product Disclosure Statement (PDS). Ever since Covid-19 reached New Zealand, we’ve been facing some interesting times in terms of business. 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. 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. 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. Helpful info about your Sharesies Account: personal details, password, Sharesies subscription, etc. Inside the Sharesies app, you will have access to information about the company, the price history and a risk and return indicator. 12 articles in this collection Written by Renae Williams and Natalie Bryant. 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. Custodians are also required to reconcile records of investors’ money daily. Host name: 104.18.5.170. You can open a Sharesies account for free and you will get charged depending on the value of your portfolio. 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. Due to its familiar social network design, the platform has been dubbed “the Facebook of porn". There are a few ways that Sharesies makes money. 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. Once you have found an investment you wish you invest in, simply click ‘Invest’. How long to top up your Sharesies Wallet. 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. Sharesies is a simple to use investment platform that allows its users to manage their investment portfolio, from their phone. Enter the amount of shares you wish to sell, then click “Sell Shares”. 🍍 | At Sharesies, we want someone with $5 to have the same investment opportunities as someone with $500,000. 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. 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. Please get in touch with us so you can get back to investing. When thinking about investing your hard earned money, it is understandable (and a good thing!) It is easy to add money to your Sharesies wallet. 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. In addition, they carry out activities such as marketing the platform, onboarding new customers, supporting customers, and maintaining the platform. 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. This reflects that the custodial account they hold assets through (Adminis Custodial Nominees Limited) is a completely separate entity to their actual business. I split my $50 high risk funds and made minuscule returns. Managed funds, Exchange traded funds (ETFs) and Companies. An administrator (for example, Custodian Adminis, or the liquidator of Sharesies) would likely work to achieve the best outcome for investors. Sharesies is a company that aims to create the most financially empowered generation through its products. 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. Sharesies looks after your money and your investments in what is called a custodial system. The website's founders claim they built Sharesome for adult content creators and to offer them tools to grow their audience. As at April 2019, Sharesies has attracted over 41,000 investors who, together, have invested over $45m. Sharesies actually let you invest as little $5. Sharesies is rolling out their trial run (a.k.a beta) investments options couple weeks ago. The transfer of your fund’s management to another Fund Manager. 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. It makes me want to be an goddamn intentional consumer. Subscribe to get new Money King NZ articles in your inbox. While this is bad for business, this has also created a new opportunity for people looking at building an investment portfolio. This would result in the platform continuing in operation as usual, apart from the platform having new owners. Sharesies is highly regulated. 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. 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. Definitely do start looking into index funds, they're … Below that it is free. 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. Sharesies does however provide a very good platform, that is arguably easier to use than its competitors platforms. This is a legal requirement and the system is audited every year. InvestNow’s custodian is Adminis Custodial Nominees Limited, run by a specialist Wellington based investment administration company, Adminis Limited. They are held by the fund platform isn ’ t do anything with money. Use investment platform, with the single most diverse, cheapest, fund they can.! Accounts with Sharesies that empowers its employees the future benefits and ease 18,678 followers on LinkedIn ‘ ’. 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