"With regard to the Lynas share offer, I also missed out, but am not convinced that it has anything to do with where the issue was registered, as you are not resident in Australia or NZ, but were lucky enough to get some.

"It seems to me that some brokers are more favoured than others, and I am considering whether to switch to Brewin Dolphin, at least for future purchases of overseas equities, as the cost of switching everything would far outweigh any possible advantage. The difficulty is that another company might favour TD Waterhouse rather than BD, thus negating the point of the exercise.

"Many thanks for the FullerMoney service, still as invaluable as ever."

David Fuller's view Thanks for your thoughtful comments on the service, but my Lynas application was not accepted. I obviously did not make this sufficiently clear in posting an email from my broker on 6th May. I think it was an overseas registration issue rather than favouritism.