How To Select A Transfer Agent
Choosing a transfer agent before your company goes public is an important part of the transition process ? it?s not something to be taken lightly. Not all transfer agents are the same, so if you?re serious about providing future stockholders with the services that will keep them happy, take the necessary time to find a transfer agent that will jive with your company?s core philosophy. Here are some tips to consider when searching for a transfer agent:
Don?t put it off. Begin researching transfer agents right away. If you make the selection a high priority, you?re more likely to find a good one. You?ll be able to control the entire process better and know that the agent you select will last for the long haul.
Choose a transfer agent based on your company?s requirements ? and keep them realistic. For instance, your company may want an agent that is accurate, responsive and experienced so you don?t have to hold their hand every step of the way. Avoid agents that attempt to sell you features you don?t need.
See it from your shareholders? perspective. Shareholders want to be treated as owners ? one of the best ways to do so is to hire a transfer agent that makes them feel part of the loop and properly handles their questions and needs. Because the relationship with your transfer agent is a big part of the shareholder experience with your company, choose an agent that knows how to handle telephone calls and communicate effectively with the shareholder population.
Take referrals with a grain of salt. What works for one company may not necessarily work for you. It?s important to select a transfer agent based on your particular needs and requirements. Your lawyers and underwriters probably have their favorites, which can prove to be good starting points for further research, but when it comes right down to it, your final decision should be based on fact.
When checking references, contact the professionals within your own industry, and make sure to talk directly with the person who contacts the agent on a daily basis.
Each agent has its own market niche, so choose yours according to the services most important to your company. Some transfer agents can handle high volume clients - others work best with smaller firms.
Get to know ownership/management. In the transfer agent business the person at the top really does affect the running of the company as a whole.
Research the staff?s level of experience. This is especially important in the stock transfer business because it has everything to do with people. To keep your shareholders happy, your transfer agent must be able to provide the utmost in customer service.
Know the terms and pricing before making a final choice. Understand all the fees involved, including one-time and start-up fees, basic and additional service costs, other expenses and termination costs.
Ultimately, the choice is a personal one based on your company?s specific needs and preferences. The right transfer agent will work best with your shareholders to ensure the future prosperity of your company.
By Katerina Mitrou sponsored by http://www.firstamericanstock.com/ registered with the Securities & Exchange Commission as a Registrar and Transfer Agent: http://www.firstamericanstock.com/ . Please link to this site when using article.
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