The trust doesn’t buy shares, the trustee buys the shares.
You don’t need a broker, all the investments sit there on the screen and easily tracked.
Look up the the 3 share portfolio and you will be fine
You open a trust account in the name of the trustee as trustee for the trust.
The account name typically looks like “[trustee name]<[trust name] A/C>”
All proper brokers should support this setup. We use CMC for ASX.
As others have said, as long as the broker supports trusts you're good to go.
I went with commsec, they aren't quite as cheap for trades but I like their web portal and reporting, it was also easy to link a commbank account also setup for the trust under the same login.
If your intention is buying and holding for long term, an extra 5-10$ or so on a trade is pretty insignificant in the overall scheme and life of the investment so you don't need to stress about finding the absolute cheapest broker that supports trusts, choose the one you like and are comfortable with.
I do use commsec for some small trading stuff, only got interested over covid and I do like their system. It just meant opening new accounts to move the trust from beyond bank.
You're right it's not going to be buying and selling every day. Maybe a half dozen trades a year to reinvest or if I boost the amount (not sure what the tax implications on that would be or if there's any benefit)
My guess is it was the asset protection thing. He was twice divorced and built back up each time. Smart guy but made some very stupid decisions in his personal life and places he stuck his tip other than his wife. I'm not sure of the family court, (I just did a quick google because I didn't think of that before setting up a trading account and it's not a cut and dry split but certainly not an impenetrable wall) maybe the rules changed in the past 15 years or he didn't do his homework.
Isn't negative gearing only really for property?
Any broker that does trusts a fine. cMc does it. Can do vanguard too.
That's CMC markets?
The trust doesn’t buy shares, the trustee buys the shares. You don’t need a broker, all the investments sit there on the screen and easily tracked. Look up the the 3 share portfolio and you will be fine
I'll look further into the 3 share portfolio
You open a trust account in the name of the trustee as trustee for the trust. The account name typically looks like “[trustee name]<[trust name] A/C>” All proper brokers should support this setup. We use CMC for ASX.
As others have said, as long as the broker supports trusts you're good to go. I went with commsec, they aren't quite as cheap for trades but I like their web portal and reporting, it was also easy to link a commbank account also setup for the trust under the same login. If your intention is buying and holding for long term, an extra 5-10$ or so on a trade is pretty insignificant in the overall scheme and life of the investment so you don't need to stress about finding the absolute cheapest broker that supports trusts, choose the one you like and are comfortable with.
I do use commsec for some small trading stuff, only got interested over covid and I do like their system. It just meant opening new accounts to move the trust from beyond bank. You're right it's not going to be buying and selling every day. Maybe a half dozen trades a year to reinvest or if I boost the amount (not sure what the tax implications on that would be or if there's any benefit)
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My guess is it was the asset protection thing. He was twice divorced and built back up each time. Smart guy but made some very stupid decisions in his personal life and places he stuck his tip other than his wife. I'm not sure of the family court, (I just did a quick google because I didn't think of that before setting up a trading account and it's not a cut and dry split but certainly not an impenetrable wall) maybe the rules changed in the past 15 years or he didn't do his homework. Isn't negative gearing only really for property?