How are investments the held?
Question
Is it correct that if InvestSMART were to cease for whatever reason, investors' money would be unaffected due to the fact that InvestSMART does not "pool" investor money. What would happen in this unlikely event? - Submitted by Dianne
Answer
Hi Dianne,
Good question. Investors holdings are held on individual HINs (holder identification numbers) and are therefore registered with CHESS. This is the same system your investments would be registered with if you bought shares directly via a share trading platform like Commsec, NABTrade, CMC etc.
If anything was to happen to InvestSMART you have full legal ownership of the holdings. You would be contacted and asked where (which brokerage account) you would like to transfer your holdings to.
Regards,
Mitchell Sneddon
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