DO I NEED STOCKBROKER TO INVEST IN AIB SHARES?

QI have €10,000 to invest in AIB shares. Do I have to register an account with a stockbroker? What fees and commission would I be charged by the stockbroker? If I bought the shares, would I have to hold on to them or could I sell whenever I want?

AYes, you must open an account with a stockbroker by 5pm this Friday, June 16. Don’t leave it too late as there is a lot of paperwork to go back and forth and there’s already a backlog – particularly with the smaller and cheaper brokers.

Stockbrokers’ requirements for opening an account may vary but you’ll be asked to complete an application form and supply some standard documentation to verify your identity. Then you can apply for AIB shares.

Stockbrokers aren’t allowed to charge for selling AIB shares (the Government is paying them 0.4%) but they may charge a maintenance fee for having an account and for selling the shares. They must inform you in advance of any fees.

Campbell O’Connor & Company has an inexpensive deal, charging €20 for a paper shares cert or €20 per annum to hold your shares in an electronic account. Or you could get a multiple-share electronic account for €50 per annum.

If you’re looking to buy and sell quickly, Cantor Fitzgerald, won’t charge their usual account maintenance fees, which normally run to €275. Like other brokers, they will charge to sell – 1.5% in this case, which is not exorbitant but not the cheapest deal either (Goodbody, for example, charge 1% up to €25,000).

Investec charge €100 per year for an account but it is an advisory account, so unlike execution-only accounts, you would get some hand-holding with your investment decisions (apart from with AIB, which is not permitted).

If you want a bigger player, Goodbody is the cheaper of the Big Two for annual fees but Davy could work out cheaper in the short term as its fee is quarterly.

Above is a list of approved brokers and their fees and contact details. As you can see from the numbers, they have offices in Dublin, Cork, Galway, Limerick and Kerry.

QI bought Microsoft Office in 2011 and now find that it won’t work on my new computer. I downloaded it again and have the product key but apparently to activate it I also need access to an old email address, which I do not have any more.

AThis is a common problem. As we buy new computers, we need to reinstall software and it may be registered to email addresses that are no longer valid. Try the Microsoft Office support website – office.com – and they should sort out the problem for you. And be aware of the hassle that can sometimes be caused when you cancel email accounts.