Sharesies, it's been fun but...

Sharesies new fee structure is a bit too much for small retail investors
Signup bonuses:
-Tiger Brokers, low commission trading: bit.ly/hustletiger
-Binance 10% off trading fee: accounts.binance.com/en/regis...
-Easycrypto: easycrypto.com/?ref=90650605
-Sharesies, free credit with new signup: sharesies.nz/r/TBTSP8
-Stake, zero commission trading: bit.ly/hhstake
- Hatch, free $10 with $100 deposit: bit.ly/hatchlink
-Sharesight, first 4 months for free: bit.ly/hhsharesight
Social Media:
-Facebook: / henkhustle
-Instagram: / henkhustle
DISCLAIMER
All personnel that appeared in this video are not financial advisors. This video is not financial advice. All strategies, recommendations and tips are purely based on personal opinions and should be for entertainment purposes only. Please do not invest purely based on information provided in this video. Seek out a qualified financial advisor and carry out your own due diligence before doing any form of investing.
Some links for products may be affiliate links.

[@Beets82]

Used to use sharsies but I had a bad experience with a smartass customer service rep when I was only asking them a simple question to clarify something. As of this morning had 2 x kids accounts which my kids manage a small weekly investment - also why I stopped using mine as my kids could not have a separate login without having to use mine and see all my funds. Had a good discussion with my kids this morning and they both decided to get rid of sharsies and go for a notice saver account with the bank as bank interest rates are better now and they can also have their own log ins

[@bigbrighty123]

Have you checked out Raiz? That might be a good option.

[@Alexischile10nz]

Selling everything from this morning... I'll just stick to Investnow. I love how it is not part of their own fee comparison that they show in their emails.

[@Wellwhatevernevermind]

Thanks for covering this mate 👍

[@haplomage]

Yeah I'm gutted too. Ill keep sharesies for my NZ stocks. Everything else I'll be buying on IbKR I guess

[@zoohead1]

Thank you.

[@jason0430]

What do you think is a better alternative now then? I probably invest around $250-500 NZD per month and only in US shares for the long term. Thanks!

[@henkhustle]

Hatch, stake, IBKR could all be worth looking into

[@TheLena787]

Kernel wealth

[@izzzybriggzy7754]

What did you end up doing in the end?

[@rupertthecatandfamily]

Why did they announce this just a few days before Christmas.

[@henkhustle]

Definitely an interesting move 🤔

[@FRITTY12348546]

So less people see the news and are on holliday?

[@NZFarmboy80]

Would it make a difference if it was 3 months later? It's still cheaper than other platforms for NZ shares

[@rupertthecatandfamily]

@@NZFarmboy80 yes it would because the news gets missed over Xmas. Prior are now only discovering it as they get back into things

[@NZFarmboy80]

@@rupertthecatandfamily I didn't miss it, but I'm on my phone 8-10 hours a day every day

[@2nostromo]

/thanks for this Henk. I was scratching my head over the shear audacity of dropping bad news out of the blue... take or leave it. Leave it

[@winstonsmith2079]

Exactly. Three days out from Christmas and such a massive increase too.

[@henkhustle]

Honestly, 1.9% seems like such an arbitrary number

[@Beets82]

The timing is mental, when most people will be loosing value and faith in shares they whack another 1.9% on top...? Could of waited some months untill market is on an up cycle and would be far less noticeable!!!

[@NZFarmboy80]

The fees are still cheaper than ASB, there was nothing wrong with the timing, it was fine. They're losing money for every dollar they make it costs them almost twice as much, they've got investors as well that need a return on their money

[@Beets82]

@@NZFarmboy80 only cheaper than ASB if it’s pocket money amounts

[@flat301]

Thanks this has been very helpful.

[@henkhustle]

You're welcome!

[@sul923]

This honestly ruined by day I was look forward to developing my dividend portfolio on the Asx and Nzx. And I can’t use any other broker because they are too complex and I am not old enough 😢.

[@mattdobbyn]

I invest $280 per week, would it be better to stick with Sharesies and get a monthly plan or look elsewhere

[@henkhustle]

If you do $280 per week the $7 monthly plan might still work for you. If you do a higher lump sum, other brokers might work out better

[@Wellwhatevernevermind]

Is there a fee to close an account with them currently? Looks like they are adding one...

[@henkhustle]

You can sell off and just cash out

[@chrisballUKtoNZ]

how are you supposed to DRIP when minimum fee for NZD shares is $25... oh ill reinvest my $9 dividends... stay away from NZ Brokers. Go international. IBKR!!!

[@zj418]

Hi Henk, have you seen FMA files court proceedings against share trading platform Tiger Brokers. The news is on Stuff

[@henkhustle]

Yes I did see that, I'm keeping an eye out on that to see what happens there

[@mranthony1886]

NZX already gave them a trading ban... so I am not interested in them@@henkhustle

[@cryptocoinkiwi8272]

Well bugger me! What is the best alternative for someone that wants to do weekly auto investments? US ETFS and a few companies. Perhaps $300 per week across 10 different investments? What is Hatch like?

[@jayxknight]

investing $500+ in Hatch will be the same fee sharesies currently has. (0.5)

[@haplomage]

Stake might be your best option

[@TheLena787]

Try Kernel wealth . They have low fees

[@SHANONisRegenerate]

Great update

[@ajormond8470]

Oh thank you for breaking the fee changes down to laymen speak...oh this suxs

[@mranthony1886]

I dumped my sharesies after getting their monthly fee's and went to hatch... shame hatch pretend they will do NZX and Australian shares still waiting 2 years.

[@FAMEROB]

real shame