Jarden Direct Broking New Platform

[Drew95]

“Our new online investment platform is coming. We are changing the way New Zealanders invest with our new platform - ‘Jarden Direct’. To ensure a smooth transition we will be granting clients access to the new platform in waves. We will notify you by email when it is your turn to set up your account and send for instructions at that time. And if you see a tile at the top right in fighting you to transfer to Jordan Direct then it's time to get started.”

[winner69]

“Our new online investment platform is coming. We are changing the way New Zealanders invest with our new platform - ‘Jarden Direct’. To ensure a smooth transition we will be granting clients access to the new platform in waves. We will notify you by email when it is your turn to set up your account and send for instructions at that time. And if you see a tile at the top right in fighting you to transfer to Jordan Direct then it's time to get started.”

‘In fighting’ you to transfer

Hope system better standard

[baaantom]

Exciting. Any new investment in online share broking platforms is positive in my view. The more competition the better!

[arekaywhy]

‘In fighting’ you to transfer

Hope system better standard


Saw that, made me snort laugh

[macduffy]

Saw that, made me snort laugh

Better transfer, otherwise…….

:ohmy:

[SPC]

I've been forced over to this new Jarden platform and I think it's rubbish.
The previous platform was much simpler. Can't be bothered with this mess. Any other opinions ?
Thoughts on ASB?

[Balance]

‘In fighting’ you to transfer

Hope system better standard

And Jordan Direct?

[JoeM]

Is there a cellphone app with the new version?

[RTM]

I've been forced over to this new Jarden platform and I think it's rubbish.
The previous platform was much simpler. Can't be bothered with this mess. Any other opinions ?
Thoughts on ASB?

Can you elaborate ? I haven't seen it yet. However looking forward to it as I think the current platform is rubbish.
If its not good...I to will be looking for somewhere new.

[King1212]

upgrade to the latest version.....too flash..just like kiwisaver platform...

i think old version is simple maybe i am used to it...

[suse]

i dont like the look of it either - I'll be sticking with the old way in until such time as I have to change. Never noticed the in fighting. God, when will people learn to have multiple people look over their websites before release. It's embarrassing.

[King1212]

I am kind of liking it...as it has a lot of cool features such as eps projection....balance sheet .. revenue ..latest news...

Just don't like the bid n ask features...as both features not together.. so kind of hard to know the depths.....not good for trading...

[King1212]

If any Jarden analyst here wanting more feedbacks....plz pm me...will charge a brokerage fee lol

[bung5]

Agree .

Also:
Movements tab should have total realised return
Movements tab should allow you to export to csv
Portfolio should include option to see return including closed positions
Portfolio tab should show return on individual share holdings like the old platform

That's initial thoughts on 10min look.

[Entrep]

Post some screenshots

[Dave]

Edit: I couldn't get it to work at all with Firefox on Linux and had to update to the latest Firefox version for it to work at all, so my earlier post was incorrect (thought it would do more than it did.....). Now running Firefox 83.0 on Linux Mint.

Doesn't look too bad... holdings appear sorted by quantity instead of alphabetical.
Annoying having to scroll through so much now that each holding takes more screen space (the code is on one line, then the company name below etc)...maybe need to diversify less.
I'd prefer a "classic" quickview of the portfolio holdings for simple monitoring with less "noise".... doesn't seem to be such customisation options but maybe I'm missing something.,

[zymwh]

i just setup my account and got my recovery code etc. And then for the first login I received an error message. I am very disappointed. I have emailed the error message to them and hope they can fix it for me.

[Waltzing]

send in your requests, we made some months ago concerning data but we are to busy to check there progress as we have huge solutions of our own...

but get your requests in. we had request for a return to some earlier reports 2 years ago but nothing was ever done.

[sommelier]

Just logged in and all I get is an error message. Tried upgrading my browser (Chrome) but no change.

[King1212]

Only ac that has couple millions$ that works.... sorry guys

[haewai]

Works perfectly for me; chrome on win10 and Android. Going to take some getting used to, but I like the single screen views and the autologin. Would like
- the charting tools back and
- an ability to change the default security chart timeframe from a year to something else and
- an easier way to view market announcements
.

[metalstorm]

Biggest bugbear for me with the new platform is how much space each stock now occupies my Watchlist. On the previous platform, I could see them listed all in one page, with their respective changes, high, low etc. Now I have to scroll down the page because each stock takes up around a quarter of the screen.

Haven't tried zooming my page out, but I doubt I'll get all 25 stocks to show up on one page that is easy to read and see how they're all tracking.

Some of the market insight tools are handy, but from my perspective, the bright, shiny, sexy user interface isn't my cup of tea. Has a whole bunch of bells of whistles, but doesn't meet my usability requirements. Sometimes you just want the basics. Maybe I'm just old-school.

Will be staying on the old platform for as long as I can.

[SPC]

Ditto. I've pointed this out and they have responded by saying it's a beta release and wip. The more feedback they get then the more inclined they will be to ask their customers what they really need.
I don't need anything other than what I have now that works fine on a smart phone.

[Drew95]

Unable to log in. Anyone else getting this error message? Windows 10, tried Opera, Chrome, Edge. All the same.

{"exception":{"id":400,"type":"Bad input","message":"Your profile does not exist (auth0|5fbca5bb7907f8006f141cec) and cannot be automatically created because auto profile creation does not support your profile's identity prefix when using an oauth identity. Please contact an administrator to create your profile or use an oauth identity with one of the following prefixes: 'waad|'","title":"Validation Exception","language":{"name":"English","alternateName":"en-GB"}}}

[McPussPuss]

Under the watch list name if you select 'today' instead of the default 'history' it condenses the list however not as compact as the old version.

If some of the layout options would persist/save as a preference that would be good as you can fiddle around enlarging charts on the quote page for example. Editing the order of the watch list does not seem to work at this stage for me.

Any one know if you can access the platform on their apps or are they only for their KS clients?

[zymwh]

Unable to log in. Anyone else getting this error message? Windows 10, tried Opera, Chrome, Edge. All the same.

{"exception":{"id":400,"type":"Bad input","message":"Your profile does not exist (auth0|5fbca5bb7907f8006f141cec) and cannot be automatically created because auto profile creation does not support your profile's identity prefix when using an oauth identity. Please contact an administrator to create your profile or use an oauth identity with one of the following prefixes: 'waad|'","title":"Validation Exception","language":{"name":"English","alternateName":"en-GB"}}}

i got the same error last night. this is the reply i got from their helpdesk, which solved my issue.

"This will happen when the migration is not complete as the terms and conditions haven’t been applied for Jarden Direct.
Go back to directbroking.co.nz, click the tile again, confirm your identity again, login using the login they just created, then you should see the t&c's page.
Then once this step is complete it will take you through to Jarden Direct."

[tomm]

I got this Errors.

TypeError: Cannot read property 'id' of null

[MauroNZ]

My concern is that seems you can't setup alerts as in the old one. Anyways just the first day, surely there is a lot to learn of it.

[Jay]

I suppose my $2.50 worth of shares is not in their high priority list of clients to switch over- I use them only to invest on behalf of my children, so infrequent and not too much funds at present :)

[DNM]

Click the 'Edit' button in your Watchlists page, the alerts are in there.
What I can't seem to find though, is any way to change my login password should I wish to do so.

[VWR]

I got the same error

[RTM]

I suppose my $2.50 worth of shares is not in their high priority list of clients to switch over- I use them only to invest on behalf of my children, so infrequent and not too much funds at present :)

You might be the ideal guinea pig.....not to much to lose.
I am waiting with interest/intrepidation for my invitation.

[Brain]

Ditto. I've pointed this out and they have responded by saying it's a beta release and wip. The more feedback they get then the more inclined they will be to ask their customers what they really need.
I don't need anything other than what I have now that works fine on a smart phone.

Thanks for that. I will wait for the gamma release or maybe the zeta release. There is nothing that pisses me off more than spotty faced computer programmers strait out of high school that have absolutely no idea how to write simple user friendly software that meets the needs of users. (I will never forget the windows 8 debacle )

[Jantar]

….There is nothing that pisses me off more than spotty faced computer programmers strait out of high school that have absolutely no idea how to write simple user friendly software that meets the needs of users. …. I have found that the best software isn't written by software developers, but by the actual users. In most companies there are people who have learnt basic coding in all sorts of jobs unrelated to IT or software. Get those people to write the algorithms and draw up what the front end should look like, then pass it to the software developers to add the java script and sql queries etc. to end up with a winning product.

[pierre]

Thanks for that. I will wait for the gamma release or maybe the zeta release. There is nothing that pisses me off more than spotty faced computer programmers strait out of high school that have absolutely no idea how to write simple user friendly software that meets the needs of users. (I will never forget the windows 8 debacle )

I've been a victim of major software upgrades in previous lives and I ain't going there again in a rush.

I hope DB don't have me in their sights as an early adopter 'cos I wont be accepting the invitation to update (nearly wrote "upgrade") until there are heaps of happy users on ST praising the new system for its clarity, fabulous functionality and ease of use. I suspect that is some distance away - most likely sometime in 2022!

I'm not a cynic - just a realist.

[Brain]

I have found that the best software isn't written by software developers, but by the actual users. In most companies there are people who have learnt basic coding in all sorts of jobs unrelated to IT or software. Get those people to write the algorithms and draw up what the front end should look like, then pass it to the software developers to add the java script and sql queries etc. to end up with a winning product.

I totally agree with that Jantar

[SPC]

Well they were polite and quick to reply to my complaints so if they are offered constructive criticism and examples of shortcomings then the quicker it will be knocked in to shape. They did request feedback. After all they'll want to keep people trading through them.
For the time being I'm sticking with the DB website because the new platform degrades my experience.

[blockhead]

Can't get mine to work, error message or opps !

Not impressed so far obviously


"Something Went Wrong We've hit an error we didn’t expect. Sorry about that."

[Brain]

Well they were polite and quick to reply to my complaints so if they are offered constructive criticism and examples of shortcomings then the quicker it will be knocked in to shape. They did request feedback. After all they'll want to keep people trading through them.
For the time being I'm sticking with the DB website because the new platform degrades my experience.

But this is 2020 not 1990. I expect the software guys to do their job and produce software that will amaze and astound us not half baked solutions that need to be knocked into shape.

[777]

Seems to me that when we get the invite to join we just reply "No Thank You".

[Mickey]

Ditto. I've pointed this out and they have responded by saying it's a beta release and wip. The more feedback they get then the more inclined they will be to ask their customers what they really need.
I don't need anything other than what I have now that works fine on a smart phone.
So, if it is a beta release then is should be run as a beta programme by getting some volunteer users to test the GUI and functionality for the purpose of providing usability feedback. They should get a selection of 'friendly' clients who are cross-platform users so that all types of operating systems and applications can be tested for compatibility. Most of this can be done in the lab but there's nothing like a bit of live environment testing as well. This is quite basic stuff to be honest. It shouldn't be rolled out to clients until it is a final production release.

[RTM]

Seems to me that when we get the invite to join we just reply "No Thank You".

....and look for an alternative. They won’t want to support two platforms forever.

I haven’t seen it yet....but am hoping they have not tried to reinvent the wheel. There are several platforms out there already which provide what I need from an info perspective, Yahoo Finance is pretty good and very configurable, although lacking transactional ability. Google Finance was pretty decent until discontinued. They just needed to mimic one of those, effectively tapping into years of development of what users want/need.

[dobby41]

I've been a victim of major software upgrades in previous lives and I ain't going there again in a rush.

I hope DB don't have me in their sights as an early adopter 'cos I wont be accepting the invitation to update (nearly wrote "upgrade") until there are heaps of happy users on ST praising the new system for its clarity, fabulous functionality and ease of use. I suspect that is some distance away - most likely sometime in 2022!

I'm not a cynic - just a realist.

Do you get paid to be their tester? From some of the faults people are reporting seems to be a bit early for consumer testing and should have had more testing in-house.

[GR8DAY]

.....ive just changed over and what a frikn appalling site! After the simplicity that was Direct Broking which worked so well in every respect now we have to somehow navigate around this clumsy rubbish. Im p"#5sed of that we are yet again being put through another unnecesary change over. Thinking hard about cancelling my account entirely. NOT a gr8day.

[SPC]

Yep that's exactly what I told them.
The more people who email feedback to them the better. I won't use it. It's hideous on a mobile device.
Did anyone asked for this ?.

[peat]

It's hideous on a mobile device.


Yes I was away from home for a few days and they shoved it in my face on the Iphone jeez I couldnt work with it - anyway I wasnt planning on doing anything other than monitoring but was annoying.

[bottomfeeder]

I havent heard anything yet, still using the old Direct Broking site. Maybe they are going to get rid of the kinks before they switch me over.

[metalstorm]

Thanks for that. I will wait for the gamma release or maybe the zeta release. There is nothing that pisses me off more than spotty faced computer programmers strait out of high school that have absolutely no idea how to write simple user friendly software that meets the needs of users. (I will never forget the windows 8 debacle )

I'd be very surprised if many organisations are still doing this. These days, you will have someone else who acts as a conduit between the customers/users and the developers. They will use a range of tools to elicit requirements and to finalize the design of the UI (user interface) including drawing up functioning mock-ups.

The issue I tend to encounter these days is more around people's appetite to throw in unnecessary widgets and 'cool' aesthetic designs; resulting in screens with too much information and users just get overwhelmed.

UI design should be usage-centred. Supporting users with the specific tasks they want to accomplish in the quickest and easiest way.

My 2c anyways...

[stoploss]

I'd be very surprised if many organisations are still doing this. These days, you will have someone else who acts as a conduit between the customers/users and the developers. They will use a range of tools to elicit requirements and to finalize the design of the UI (user interface) including drawing up functioning mock-ups.

The issue I tend to encounter these days is more around people's appetite to throw in unnecessary widgets and 'cool' aesthetic designs; resulting in screens with too much information and users just get overwhelmed.

UI design should be usage-centred. Supporting users with the specific tasks they want to accomplish in the quickest and easiest way.

My 2c anyways...
Funny how companies like betfair can design an app that can take thousands off you in seconds .... but these guys ........

[Ricky-bobby]

Yep way to busy... I just want to see all my holdings with current value and same with watch list. The table direct broker had was simple and had all I needed... 3/10

[Waltzing]

back on the ole system the intra day chart appears to be broken..

also we notice the reporting continues to get worse.. settlements now dont have details... we liked the old ANZ reports that had the ORDER NO in the description line...

we have requested the order number ..

notice the settlements no longer even show the details ... hopeless really it just not logic.

the old ANZ format was perfect with its order no. our software turned it into journals.

[blockhead]

Finally got onto the Jarden site, I don't like it, format of DB was much easier to see all my holdings, original cost, gain or loss, cash balance and currency variation all in the one place.

I guess they will tell me to use it for a while and I will come to like it, well maybe I will and maybe I won't but if I don't like it I will be looking at the other options

[SPC]

Just what I concluded. Aweful. Tried it once and haven't bothered since. DB site has all I need. Can't see how this new product offers anything over DB. If people feel the same then just stay on the old site and the stats will tell it all.

[Oliver Mander]

Does anyone know where the "NZ50/ASX Market" ticker is on the new site? There is one, but does not seem to update during the day...only shows yesterday's close. Unless I am doing something completely weird...

[forest]

Just what I concluded. Aweful. Tried it once and haven't bothered since. DB site has all I need. Can't see how this new product offers anything over DB. If people feel the same then just stay on the old site and the stats will tell it all.

That how I see it too SPC, I am very happy with the DB site as it is.
DB site works well and is easy to use on desktop as well as mobile devices.
All the information is there.

[peat]

I'm not bagging it yet... just running in parallel but finding I'm still on the old one mostly but exploring the new one for looking at charts , info etc. until I get more comfortable with it. It may take time. I'm more into doing my stuff than evaluating a new web site.

[Waltzing]

the reports could do with the old ANZ style... put the ORDER NO back in , and put a record number in the export and put descriptions back in the settlements... hopeless. Auditing, people Auditing. Really we are thinking of making a complaint to the FMA. In the nicest possible way of course. That other platform provides nothing much because it not really a trading platform.

[littletramp]

Does anyone know how to access the full list of ASX announcements for an individual stock via the new platform? Tried phoning but phones overloaded.

[stoploss]

Does anyone know how to access the full list of ASX announcements for an individual stock via the new platform? Tried phoning but phones overloaded.
Try, stocknessmonster.com

[Ggcc]

This new website is going to be interesting to work through... Where the hell to find stuff. I need reprogramming and it will take time

[see weed]

The last trade I did with DB was about 20 years ago. Have been with ASB securities for the last many years. Not too much problems over here, all going well at the moment.:)

[MarineSalvage]

I’ve been on a few flights recently and Jarden ad is on high rotate on overhead screens... got very sick of it

[Waltzing]

The reports over the years have not improved.

Our software used to be able to track the NZX order and settlements on the old ANZ reports.

Someone in the management of software at the brokerage has constantly reduced the information in the reports.

One solution we have had to implement is a separate software module just for this platform.

Getting some traction on improving the reporting back to where the settlements actually show the NZX order that is being settled might actual require intervention at the legal team level in order to get some traction.

One would have expected a much higher level of data transaction reporting in by 2020 not less!!!

AN XML or Jason file with properties would be a better solution to parse the data.

NZ INC please get your act together at the Data level.

At the present time we have had to write a special module to handle the very basic reports that no longer even hold an NZX order number.

Its pretty agricultural for this day and age im afraid.

KFC just like the accounting systems create NZ.. Hopeless...

[Misty]

Jarden clients need check their "Wallet" to ensure the dividends actually go into it. Checked mine in the last few days, many thousands of dollars missing over a number of years. Staff not very helpful at all - not impressed at all. Check "Portfolio Movements" compared to the "Wallet" balance and movements to see what is missing. It must be manual entry and fails if staff don't "get around" to doing it..

[Rawz]

Jarden clients need check their "Wallets" to ensure the dividends actually go into it. Checked mine in the last few days, many thousands of dollars missing over a number of years. Staff not very helpful at all - not impresses at all. Check "Portfolio Movements" compared to the "Wallet" balance and movements to see what is missing. It must be manual entry and fails if staff don't "get around" to doing it

Didnt know the dividends could be paid to the wallet. My goes straight into my ANZ bank a/c.

[ThaiJohn]

I find them pretty average to deal with. I miss the easy days of dealing with Direct Broking and their site.

[iceman]

Didnt know the dividends could be paid to the wallet. My goes straight into my ANZ bank a/c.

Same here. Have never had an issue with it !

[777]

Jarden clients need check their "Wallet" to ensure the dividends actually go into it. Checked mine in the last few days, many thousands of dollars missing over a number of years. Staff not very helpful at all - not impressed at all. Check "Portfolio Movements" compared to the "Wallet" balance and movements to see what is missing. It must be manual entry and fails if staff don't "get around" to doing it..

It is up to you do follow what happens with each dividend. If it is not paid into your Jarden account when due then you should follow it up at the time. Not leave it for a couple of years.

[Cabinet]

Didnt know the dividends could be paid to the wallet. My goes straight into my ANZ bank a/c.

I didn't know either - straight into KiwiBank for me.

[waikare]

I didn't know either - straight into KiwiBank for me.

Going by the number of people not knowing that dividends can be direct credited to their Jarden act, it would they have done poor job of promoting this.

[Ggcc]

Just got an email that Jarden direct is moving to Hatch. Jeez these guys love to move around.

[Rawz]

Just got an email that Jarden direct is moving to Hatch. Jeez these guys love to move around.
Wonder if that means it’s going the custodian way like sharesies?? Surely not

Very strange move by jarden

[blackcap]

Wonder if that means it’s going the custodian way like sharesies?? Surely not

Very strange move by jarden

I am very surprised by the email and the move. I think it will piss off a lot of customers, myself included. I am only just getting around to using the new Jarden platform.

As for custodian, maybe they are, but I am sure you can keep your CSN if you so wish... I have not heard of the registries scrapping that system yet. So if your shares are on CSN, you can keep them on CSN. That is my understanding at this stage.

[Newman]

Just got an email that Jarden direct is moving to Hatch. Jeez these guys love to move around.

Feel sick of what Jarden has done. It's time to leave Jarden.

[Ggcc]

Feel sick of what Jarden has done. It's time to leave Jarden.
I have only started getting used to this site. I feel like I am going back to school

[Bobdn]

This is good news - I'm already on Hatch. Will be good to have my only holding on Jarden, 1000 Genesis shares, next to my US Energy ETF, right where they belong. Genesis still owns a gas field right?

[Entrep]

Hatch was a shambles when I tried to join a few years back. Not happy with all this change

[Valuegrowth]

This is good news - I'm already on Hatch. Will be good to have my only holding on Jarden, 1000 Genesis shares, next to my US Energy ETF, right where they belong. Genesis still owns a gas field right? I sold my holding before the big drop and kept the sale proceeds in thier cash account.

[Bobdn]

Good one. Its nice when it works out that way.

I'll keep my Genesis shares for old times sake and just use the DRP.

[777]

This is good news - I'm already on Hatch. Will be good to have my only holding on Jarden, 1000 Genesis shares, next to my US Energy ETF, right where they belong. Genesis still owns a gas field right?

The share registries hold your shares. Direct are merely a brokerage.

[Bobdn]

Yes, true. I assume however that they will appear on my Hatch app like they do with Jarden at the moment? We'll see I guess.

[blackcap]

The share registries hold your shares. Direct are merely a brokerage.

That's what a lot of people fail to realise.

My other concern is what are they going to do with the cash account. Will it still be ringfenced, and will the amounts of interest still be comparable.

[bottomfeeder]

Not sure, but will not be happy if the shares are held by nominee instead of my CSN. I have a substantial sum invested in bonds and shares, so am not happy about being shunted into a sharsies type environment.

[Rawz]

What’s driving it I wonder? Usually profits.. is the current model not making money? Sharesies model winning too much of the new retail business?

[Yottie]

Well !
I have also received the Jarden / Hatch e-mail.
It has been replied to in rather strong terms ( which I won't replicate here ).

Mainly: How about restoring "Direct Broking" - [ without the B>S> ]

regards

yottie

p.s. Observing the state of monetary / sharemarket affairs from over here leads one to seriously consider a change of activity to the ASX etf's.
Cheers

[777]

From last August

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

[blackcap]

What’s driving it I wonder? Usually profits.. is the current model not making money? Sharesies model winning too much of the new retail business?

I doubt the current model is making any profit. If you think about it, back in the start up days of discount broking, we were charged $29 a trade. It is still the same price. But the costs will have increased substantially for brokers since 1998. (Efficiency and technology gains aside)

[bull....]

it was announced back in late 2022 that hatch and jarden would eventually merge

[ronaldson]

This (Hatch/Jarden Direct) seems to be the "rump" left over after the FirstCape merger combining Jarden Securities wealth business, the NZ operations of JBWere (owned by NAB), Bnz Investments Services and Harbour Asset Management just implemented (incl BNZs $5B KiwiSaver scheme). NAB own 45%, Jarden 25% and Pacific Private Equity Partners the remaining 35%.

The email says the Jarden Direct staff are transferring too and it will be the Hatch platform used. This seems to facilitate investment in US shares but does nothing for UK, Singapore and others?

Not clear yet regarding fees, or interest on balances (Jarden were quite good in paying interest in my opinion so it was reasonable to park balances temporarily on call pending an opportunity coming up).

Waiting to learn more.

[potsiea]

Have Hatch resolved the issue yet where USD cash on hand in your Hatch account was captured by FIF?

[777]

I doubt the current model is making any profit. If you think about it, back in the start up days of discount broking, we were charged $29 a trade. It is still the same price. But the costs will have increased substantially for brokers since 1998. (Efficiency and technology gains aside)

But that $29.00 was all you were charged. No .2% for over $15,000. That didn't last long.

Their income will vary on share price movements as well. It has been a bad time for them recently as the market has been down and less trading activity.

[RTM]

I guess this is why Jarden have not put much effort into upgrading the current platform we use.
Although it works...its pretty average in terms of the way one can access information.

[777]

I guess this is why Jarden have not put much effort into upgrading the current platform we use.
Although it works...its pretty average in terms of the way one can access information.

But why did they spend the money creating this platform last year, when the one they had was superior and they knew they were joining with Hatch.

[RTM]

But why did they spend the money creating this platform last year, when the one they had was superior and they knew they were joining with Hatch.

Was it only last year ? Yeah, lot of money wasted creating the platform we are now using. I guess work started on that before the Hatch thing came along.

[voltage]

hatch is very cheap to buy US shares, will this remain the same with Jarden?
It would be great to have a one stop shop for a NZ broker that gives you access to all global markets at a low cost with no custodial fees otherwise will stick with IBKR.

[Valuegrowth]

hatch is very cheap to buy US shares, will this remain the same with Jarden?
It would be great to have a one stop shop for a NZ broker that gives you access to all global markets at a low cost with no custodial fees otherwise will stick with IBKR. Who owns this platform?

[Temoana]

I am a user of Jarden and Sharesies but largely ignorant of Hatch. Am I right in that Hatch do not currently allow trades on NZX or ASX?

Everything on their web page relates to investment into the US markets. If so, I am not interested in being "migrated" to Hatch!

Useful comparison at https://www.banked.co.nz/share-trading-fee-comparison

[Ggcc]

I am a user of Jarden and Sharesies but largely ignorant of Hatch. Am I right in that Hatch do not currently allow trades on NZX or ASX?

Everything on their web page relates to investment into the US markets. If so, I am not interested in being "migrated" to Hatch!

Useful comparison at https://www.banked.co.nz/share-trading-fee-comparison
Just got off the phone with them and the platform sounds to be a very similar website to Jarden, so we will have access to NZ shares. They will also be having access to US shares and I get the idea they are working on an app for NZ. No ETA when things will arrive.

[huxley]

I am a user of Jarden and Sharesies but largely ignorant of Hatch. Am I right in that Hatch do not currently allow trades on NZX or ASX?

Everything on their web page relates to investment into the US markets. If so, I am not interested in being "migrated" to Hatch!

Useful comparison at https://www.banked.co.nz/share-trading-fee-comparison

Hatch has always been a platform for US markets, however in their email Jarden Direct says:

“ We’re building new financial products on Hatch…”

So from that I take it they will look to offer other markets, similar to Shareies. I hope they will still let you buy using a CSN rather than be forced into using a custodian for NZX instruments. Will wait and see how it goes.

[bottomfeeder]

For your NZX shares, we will be offering both custody and own-name trading. Custody trading however, will be offered at a better price point and will allow us the ability to manage dividends, corporate actions, and tax.



All ASX, US and UK trading will be done via a custody arrangement.

[Rawz]

why do people not like the custody way of things? Is there a perceived risk that you will lose your money?

[huxley]

why do people not like the custody way of things? Is there a perceived risk that you will lose your money?

To be honest I only really care about it in respect of my Infratil shares, they often write to shareholders with useful information which you can miss if you are holding via a custody. As long as they are properly regulated then there shouldn’t be any additional risk.

[blackcap]

why do people not like the custody way of things? Is there a perceived risk that you will lose your money?

Not per se, but with Sharesies for quite a while, you could not vote on any resolutions. So you lost rights as an ordinary shareholder. I hope that Hatch will at least have that sorted to begin with.

It also depends on the security around the custody. That will have to be watertight for me.

[warthog]

Who owns this platform?

From the article referenced above:


Although the sale was completed on Aug 1 last year, Jarden expects to continue operating the Jarden Direct business until its transition to Hatch Invest NZ is completed, which is estimated to be in the first half of 2024. The sale price was $47.5 million in cash and a 25% stake in Hatch which Jarden values at $8.5 million and which has since been distributed to Jarden Partners.

Differences between the platforms:
Hatch seems to be an offshore broker only, with a US-based cash management account (money market fund).
Jardens covers NZ and offshore shares, bonds, etc., with multi-currency cash management accounts.

So Jarden effectively exiting the broking business with cash and a stake in the new paradigm player Hatch.

Does this mean all the Jarden product offerings/services will be offered by Hatch? That would substantially broaden Hatch's offering to enable it to compete with Sharesies, Tiger and Stake. Hatch doesn't even have a mobile app apparently.

[Rawz]

for me I prefer the custody way as its way less admin and paperwork. As soon as I went back to my CSN with Jarden i got mail with forms to complete. Then my address wasnt updated and they withheld dividends. Its all running smoothly now but I like things simple and zero paperwork. Sharesies is super easy, especially buying on the ASX. I think Ill flag Hatch and just go 100% sharesies.

[Toddy]

for me I prefer the custody way as its way less admin and paperwork. As soon as I went back to my CSN with Jarden i got mail with forms to complete. Then my address wasnt updated and they withheld dividends. Its all running smoothly now but I like things simple and zero paperwork. Sharesies is super easy, especially buying on the ASX. I think Ill flag Hatch and just go 100% sharesies.

I hadn't really thought about it too much. But now I am.

I will take on board what everyone is saying here. If you need to redo the paperwork then it's open season on a total review.

[SPC]

I'm confused as to what is going on here regarding the proposed Hatch move particularly with regard to any proposed 'custodial' intentions. I simply use Jarden to buy and sell shares. I do not use any other services. So I've forwarded the question below to Jardens.

Question: With the proposed move to Hatch are you suggesting that the shares held in my name are transferred to an intermediary Custodian (Hatch) who then holds my securities under custody?.
If there is any intended change to the way I own my securities with the Hatch move then you will need to explain this too me please.
I do not need the services of a third party custodian if that is the proposed intention.
Please advise me if you propose that the ownership of my holdings is altered in any way following the proposed closure of the Jarden Direct platform.

[RTM]

why do people not like the custody way of things? Is there a perceived risk that you will lose your money?

https://kpmg.com/au/en/home/creditors/halifax-nz-limited.html

I got caught up with this. Shares were not in my name. So far got back most of my initial cash input....however none of the gain, > US$75K
So I prefer having the stocks in my name. If that is possible.

[huxley]

Just posting this reply in case it’s helpful. Here’s the FAQ link I was sent: https://www.hatchinvest.nz/jardendirect-faq

Email from Jarden Direct:

Hi xxxxx

Thanks for reaching out.

That’s correct. For your NZX shares, we will be offering both custody and own-name trading. Custody trading however, will be offered at a better price point and will allow us the ability to manage dividends, corporate actions, and tax.

For any further queries, please feel free to refer to our FAQ section here.

If you have any questions that aren’t answered in our FAQ’s, please don’t hesitate to get back in touch.

Have a nice rest of your day.

Kind regards,
Xxxxxx


Jarden Direct ​​​​
Operated by Jarden Securities Limited (NZX Firm)
Free Phone: 0800 805 777 www.jardendirect.co.nz

[777]

Why would you want them to manage your dividends?
What corporate actions are they referring to?
Why would I want them to handle my tax?


Come clean Jardens. Give us the info.... You have handled this badly.

[airedale]

There is a lot of corporate speak and a sales pitch from Jardens and not enough plain English. They need to come clean with the potential pitfalls and down side..

[Bjauck]

Why would you want them to manage your dividends?
What corporate actions are they referring to?
Why would I want them to handle my tax?


Come clean Jardens. Give us the info.... You have handled this badly. A family member has their investments with a broker’s custodial service. They produce annual tax reports covering FIF, collation of dividends, financial arrangement income from foreign currency and bonds etc. So quite useful if you have a diversified portfolio. The NZ income tax system has different and complex rules for each investment type.

They report on future rights issues etc. and any potential tax issues arising from mergers and acquisitions etc.

[blackcap]

A family member has their investments with a broker’s custodial service. They produce annual tax reports covering FIF, collation of dividends, financial arrangement income from foreign currency and bonds etc. So quite useful if you have a diversified portfolio. The NZ income tax system has different and complex rules for each investment type.

They report on future rights issues etc. and any potential tax issues arising from mergers and acquisitions etc.

Yes but often there is an annual "fee" of 0.5%-1.25% of the portfolio value or some other nonsense for managing your investments.

Or do you mean like sharesies, where they just send you a tax statement for free at year end? Unlike the robbers at Computershare who still think nothing of charging for the service.

[777]

Why do you need a tax statement for NZ shares? All you need to do is log into myIR and they are all there as the year proceeds.

FIF I can handle and would not wish to hand my Australian Unit Trusts into a custodians hands.

[whatsup]

Why would you want them to manage your dividends?
What corporate actions are they referring to?
Why would I want them to handle my tax?


Come clean Jardens. Give us the info.... You have handled this badly.

IMO, Trouble is "if" they ever got into trouble and are placed into receivership, all assets ( shares, interest vassals etc ) become the property of the receiver and its up to them to sort out, mean while 1-2-3 years later your shares are untradable !

[SPC]

I'm with 777. Virtually my entire portfolio is NZX listed Pies. I don't need a third party managing anything regarding the tax obligations on these. IR don't even collect thiis data themselves. They are exempt from reporting in my return. Unless I decide otherwise.
If it's in my interests to declare the distributions to claim Imputation credits then that's my choice. I don't want somebody else dicking around with my tax reporting to IR.
An earlier post did suggest two ownership models including own name holding.

[bottomfeeder]

IMO, Trouble is "if" they ever got into trouble and are placed into receivership, all assets ( shares, interest vassals etc ) become the property of the receiver and its up to them to sort out, mean while 1-2-3 years later your shares are untradable !

Also if your shares are held in custodial service, they really own you. I could imagine changing to another broker would be too complicated to even consider it.

[ronaldson]

I once asked Computershare and Link Market Services to arrange for a single tax statement covering all shares where either entity was the Registrar ( not that I used the service, which with fee increases soon became more expensive then when initially introduced ) so only one fee was payable, which they could have split, perhaps according to the holdings involved or howsoever. Predictably there were said to be privacy and perhaps other concerns and neither felt incentivised to support their customers in that way.

[Bjauck]

Yes but often there is an annual "fee" of 0.5%-1.25% of the portfolio value or some other nonsense for managing your investments.

Or do you mean like sharesies, where they just send you a tax statement for free at year end? Unlike the robbers at Computershare who still think nothing of charging for the service.
I was explaining why in certain circumstances having a tax report may be helpful.

There is a fee, custodial is separate from the advise fee. If you go to an accountant they will charge a fee. If you can handle the various tax rules surrounding fif, foreign currency, financial arrangements, nz tax on foreign mergers and acquisitions, then handle it yourself if you have the skills..

Obviously if you just have NZ shares, term deposits, and NZ domiciled funds and hold NZ bonds from issue to maturity, things are more straightforward.

[Bjauck]

I'm with 777. Virtually my entire portfolio is NZX listed Pies. I don't need a third party managing anything regarding the tax obligations on these. IR don't even collect thiis data themselves. They are exempt from reporting in my return. Unless I decide otherwise.
If it's in my interests to declare the distributions to claim Imputation credits then that's my choice. I don't want somebody else dicking around with my tax reporting to IR.
An earlier post did suggest two ownership models including own name holding. The custodial service prepares a report for the client and does not send it to the IRD. Obviously you may have salary and other income that the custodial service is unaware of. You can also still use an accountant, whose fee will be cheaper as a result of the custodial tax report.

[Nor]

How safe are custodial services?

[SPC]

Jarden have responded promptly to my query around the issue of custodianship and advise that under Hatch all ASX/UK/US shares will be traded and managed on a custodial basis. NZX shares will have the option of own-name or custodial holding. Pricing indicated as favouring custody.
Echoes the earlier reply posted.

[Ggcc]

Jarden have responded promptly to my query around the issue of custodianship and advise that under Hatch all ASX/UK/US shares will be traded and managed on a custodial basis. NZX shares will have the option of own-name or custodial holding. Pricing indicated as favouring custody.
Echoes the earlier reply posted.
Wonder whether there will be a monthly cost involved as Jarden does not have a $4.99 per month cost to have which Hatch do. Maybe that is where if you pay $4.99 per month you can purchase fewer shares with a lower cost.

[RTM]

Wish IB did NZ shares....I'd be gone in a flash.

[Valuegrowth]

https://www.moneyhub.co.nz/how-your-investments-are-protected-with-hatch-sharesies-stake-investnow.html