Asked on 18 Mar 2019
A CDP linked account give you voting rights, and the rights to attend AGMs to vote.
Custodian brokerage fees are lower, but you can still attend AGMs, subscribe to rights issue, etc. However, the shares will not be reflected in your CDP statement, since it is held by the broker, in your name, and you might have to pay a custody fee unless you trade relatively frequently (on POEMS, the minimum is 1 trade a quarter). So it depends on your own trading frequency and preferences.
If I'm not mistaken a custodian brokerage accounts fees are much lower, around minimum $10 per trade vs minimum of $25 for CDP linked accounts.
The following be my opinions:
CDP linked account is a must, should one values the right to attend AGMs, and interact with management or the board and vote on the boards decisions. It does seem to imply investors may favour such accounts.
Custodian linked account would be for people whom value low cost, especially traders whom frequently trade the market, a CDP linked account would present a cost disadvantage them... or, the penny-pinching long term investor seeking to maximize returns at the lowest cost.
As for me, i think i be using both soon. Usually I'd buy with CDP linked account and will sell with a custodian linked account.
If all transaction costs is same, then CDP as you will have the right to attend agm, egm since the stocks is under your name
No real difference in terms of support for all particular trading activity and trading actions - so I just use whatever leads to cheapest outcome (right now turns out to be custodian accounts, but would switch to CDP if a brokerage did a cheap deal there)