Alliance Shareholder Communications
Alliance Shareholder Communications (ASC), an affiliate company of Alliance Advisors, provides a cost-free solution to escheatment. Unexchanged or lost shareholders can become a headache in complying with your state’s escheatment laws and regulations, including fines and stiff penalties for non-compliance.
ASC’s Shareholder Asset Reunification Program
Employed by companies after mergers and/or acquisitions, ASC’s Shareholder Asset Reunification Program (“ShARP”) reunites unexchanged shareholders that remain after the transaction. Whether these shareholders are confused, lost, deceased, lost their certificates, etc., the fact is that they have not responded to multiple mailing(s) by the transfer agent or fund group. Our experience is that these holders are unlikely to come forward to claim their assets unless a proactive campaign is undertaken to locate and assist them through the process.
ShARP is designed to locate, contact and assist those shareholders that remain unexchanged or lost. Whether they need legal documents or hand-holding through the exchange process, we ensure that your shareholders are aware of the program and all of the options available to them. While ShARP is voluntary to shareholders, we fully disclose the asset they are due, our fees for assisting them as well as the fact that they still retain their right to exchange for free through the fund or transfer agent.
Retaining ASC for this program is a cost-free turnkey solution for the issuer and will require very little, if any, ongoing attention while the program is running. The program will be managed internally from start to finish, as we do not rely on outside third parties for any component of this service. ShARP will include a simplified one page Letter-of-Transmittal mailing, an 800 number for phone calls, all processing and paying the participating shareholders, as well as ongoing reports detailing our progress.
We typically generate response rates in excess of 75% for our clients because ASC will: