Direct Broking to Jarden Direct to Hatch ?

[Basil]

Copy of email sent this morning...personal information redacted

I have approx "redacted" invested in the market and am very uncomfortable with the proposed changes especially hard on the heels of the change from Direct Broking to Jarden Direct.
 
Questions presenting regarding the proposed changes.
 
1. Please advise if the transfer to Hatch involves a transfer of securities held in my name into a "custodial" situation, I.e. shares will be held in a nominee company controlled by Hatch.
 
2. What is the share capital of Hatch?
 
3. Is Hatch profitable?
4. If I am unhappy with the proposed transfer are Jarden themselves as an entity still continuing and can I transfer over to an advisory service with them (matters particular to me redacted)

I'd appreciate a reply within seven working days.

Not holding my breath for a reply.  I read somewhere...might have been on the other channel or in the news a while back, Jarden lost money last year...the figure of $13m is something I vaguely recollect but my recall on this matter is quite vague and therefore probably unreliable.

[Azz]

A nominee is not exactly a new concept. And it makes everything so much easier.

[Waltzing]

easier?

what if your doing off market transfers ...

you have to transfer out .. then transfer to another entity... then hopefully they assign the new CNN to the holding but it will probably require an email to them..or you will need to udpate the portfolio. or they will not have the holding on record for you to sell in the new portfolio

or you can put it in another platform ...

lots more mucking around ,,,, not easier at all

its set up for buy and hold in small portfolios of small holders....

many people have trusts and personal portfolios

inter porfolio transfers are for taxation rebalancing..

[Azz]

easier?

what if your doing off market transfers ...

you have to transfer out .. then transfer to another entity... then hopefully they assign the new CNN to the holding but it will probably require an email to them..or you will need to udpate the portfolio. or they will not have the holding on record for you to sell in the new portfolio

or you can put it in another platform ...

lots more mucking around ,,,, not easier at all

its set up for buy and hold in small portfolios of small holders....

many people have trusts and personal portfolios

inter porfolio transfers are for taxation rebalancing..

Investment platform offerings should be built for the majority, not the other way round which is what you're describing; those things on your list could be provided but at a bespoke cost to the customer.

A nominee account structure means easy buys and easy sells and easy dividends paid, which is what I think most people want.

[entrep]

A nominee account structure means easy buys and easy sells and easy dividends paid, which is what I think most people want.

I'm with Jarden currently as a trust and everything is easy peasy.

[Azz]

I'm with Jarden currently as a trust and everything is easy peasy.

A trust having a problem with a nominee account lol...... that's pretty funny...!

[Breezy]

Investment platform offerings should be built for the majority, not the other way round which is what you're describing; those things on your list could be provided but at a bespoke cost to the customer.

A nominee account structure means easy buys and easy sells and easy dividends paid, which is what I think most people want.

These guys currently make all their money from trading and the more users trade the better, nominee accounts are a completely different direction and income focus which may or may not work out for them. Lots of competition with Sharesies once they enter that space.

[Azz]

These guys currently make all their money from trading and the more users trade the better, nominee accounts are a completely different direction and income focus which may or may not work out for them. Lots of competition with Sharesies once they enter that space.

I wouldn't be surprised if worldwide that nominee was the standard, the default. Let's see what happens in this platform market, for NZ. I'm more interested in what Hatch will do for NZX (ASX?) trade commissions.

[Waltzing]

Yes AZZ nomiee is the standard

fully expect to have to do the extra transfer work manually ... not a bi deal ...  a rest API certificated system would be go though...

"what Hatch will do for NZX (ASX?) trade commissions."

yes and actually they may have enough flow for us to provide add on services for the larger volumn customers...

who know it might actually work out ok...

but it wont suit everyone ..

[Azz]

a REST API site and that is the future and no one provides one yet...

No back-and-forth API being used, plus plain-old data export being limited as you mentioned in another post, doesn't add up to a very sophistated feature set here in NZ.

[Waltzing]

its systemic in the financial system ..

the population at large has a lot to complain about its just they dont know it...

they know something is not quite as it should be ...

the custodial model is really pretty shocking in that it allows them to make a margin of the holdings...

a more automated system would be better for trading but it could crash the markets more often ... the old market marker system allowed for an off market match up to occur...

but they got rid of it... private capital is apparently again all the rage at the hgh end in the big markets.. dark pools..

at the low end custodial is the norm now..

[Azz]

the population at large has a lot to complain about its just they dont know it...

Lol..... don't go encouraging them! :-)

[Basil]

https://www.goodreturns.co.nz/article/976522050/jarden-to-hive-off-profitable-wealth-business-by-march-2024.html

[777]

When anyone tells you that a change is great for you, it's BS.

[Breezy]

When anyone tells you that a change is great for you, it's BS.

Ivory tower attitude seems to have overtaken this organization for quite some time now, we know what's best even if it doesn't work, we welcome all feedback but we don't listen to plebs.