Commsec 'Retail' vs Commsec 'Adviser Services'

Discussion in 'Sharemarket Investing Platforms, Tools & Services' started by Orion, 3rd Jun, 2019.

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  1. PandS

    PandS Well-Known Member

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    Your best bet is to work out what you need and sign up to one of the CHESS broker
    they all have pro and cons depending on what you use them for
    for pure buy and sell there are cheaper broker than comsec like Geoffw mentioned

    one thing I like about comsec which I can not live without is I can buy and sell shares without cash in the account as long as I can settle and have the money by T+2.
    I am an opportunistic buyers, there are stocks that I know very well and for whatever reason they got hammered due to fear or uncertainty or X factors and briefly fall hard
    I need to nap it on the day and worry about the money later, I always has money it just not sit in the share account earning nothing.

    the other features is I can put up shares as collateral for options play which is SO good
    as I can make use of my share holding as cash, then I put cash in my offset account
    so effectively I can use my cash for 2 purposes :) save money on interest and earn extra income
     
  2. geoffw

    geoffw Moderator Staff Member

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    You are correct about having to have cash in your account.

    I don't believe there's a problem with having two brokers, especially if you have large purchases and have a little lead time available. A $50,000 purchase through CommSec would cost $60 with CommSec, $9.50 with SelfWealth.
     
  3. Orion

    Orion Well-Known Member

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    Thanks Y-man.

    I'll add the little bit I know.

    Commsec Retail and Commsec Advisory, from a IT systems point of view, are completely different platforms (rather than one being a bolt-on to the other).

    Commsec Retail you access here - CommSec - Online Share Trading & Investing. Start trading today with Australia's leading online broker., and you log in with a 'Client ID'.

    Commsec Advisory you access here - CommSec Adviser Services |, and you log in with a 'Username'.

    Commsec Retail is primarily for everyday Mum and Dad, log in, away you go. You do have the option of enabling an advisor access to your account to place trades on your behalf (seems to be a function added later).

    Commsec Advisory is the boring business/wholesale version designed to be used by advisors from day one and primarily by advisors. Potentially has better advisor (tax time) reporting.


    My advisor is away on leave and I'm dealing with his executive assistant with these queries. I'm happy for my advisor to place trades on my behalf, and I do not pay extra to my advisor for this (on top of my all-inclusive Wealth Management / Fin Planning fee), but would like the nice UIs and app.

    I know something isn't accurate but am not sure what, I'm still lost on which platform is best for me.
     
  4. PandS

    PandS Well-Known Member

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    comsec retails has comprehensive reporting for tax so no worry there
     
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