DRP question

How would one manage a stock in sharesight in that the shares exist on 2 separate platforms. 1 platform is Chess so I can enable DRP and the other is custodial, so doesn’t support DRP. My preference is to enable it in the one that does whilst just taking the dividends from the other and every couple of years move the shares to the chess sponsored one. Any suggestion would be great.

Hi there,
The way of handing this on Sharesight depends on how you would like to track them i.e. track the stocks under the same code or separately.
If you wish to track all the stocks (from both platform) under a single Instrument code in Sharesight, you can record all the historical trade under the same code, and enable the DRP. In this case, you need make sure that correct quantity is reinvested (i.e. only for the stocks in Chess platform).

The other workaround for this would be to add the stock in CHESS platform as a listed instrument and enable the DRP for it. For the stocks in custodial platform, you can add it as a custom investment within a same portfolio and manually add a dividend for it.

Please reach out to us via support@sharesight.co.nz if you require further help on this.