Highlights
- A company was in search of a new transfer agent after not receiving smooth delivery of shares and transparent communications from their current transfer agent provider.
- The company chose EQ as their new transfer agent, as they were impressed with EQ’s cutting-edge DWAC Online technology, proven track record, cost-effective solutions, and efficient and transparent processes.
- EQ seamlessly onboarded the new client to deliver shares promptly as required. Additionally, EQ is also providing annual meeting and proxy solicitation services.
The company was unsatisfied with their current transfer agent’s lack of responsiveness
A computer software company was no longer satisfied with the services provided by their current transfer agent. They were frustrated with experiencing slow response times for their shareholder inquiries, lack of transparency when questioned, as well as costly transfer agent administration fees. This company was doing a continuous at-the-market offering; however, their transfer agent was not delivering shares to the purchasers within the proper timeframe. Due to the lack of urgency and communication by this transfer agent, the company was continuously losing money and had to manage their disgruntled shareholders.
After not receiving an appropriate explanation, they decided that they needed to find a new transfer agent. Preferably, a responsive, experienced transfer agent who could provide an efficient portal that could handle the volume of shares that needed to be delivered.
They were aware that choosing the right transfer agent was not going to be an easy task. However, after meeting with EQ to go over their immediate and long-term needs for a transfer agent, the company felt confident in their decision to choose EQ, a provider that was truly committed to the organization’s success. Deciding factors for this company included EQ’s collaborative approach, thorough demonstrations of EQ’s platforms DWAC Online and Issuer Central, as well as phone calls with experienced EQ executives and relationship managers.
EQ provided a transfer agent solution that would meet the company’s immediate needs
Without delay, EQ assigned a dedicated team of onboarding experts to guide the client through the entire transition process. This detailed process began with notifying the client’s current service provider of the change and the need for a transfer of records. The onboarding team then confirmed their analysis of the client’s DWAC requirements and reviewed all necessary data and transition mapping, and began developing a shareholder communication plan.
The client’s shareholder data was then smoothly and efficiently transitioned to our platform. EQ used DWAC Online to help automate the process of delivering shares in a timely manner, which solved the main pain point as to why this company left their last transfer agent. The client could monitor the progress of submissions as well as view transactional and historical reports through EQ’s DWAC Online portal. EQ also worked within the client’s budget, providing a seamless onboarding experience and prioritizing issuer and shareholder satisfaction.
The company is satisfied with EQ’s transfer agent services
The new client was extremely satisfied with EQ’s transfer agent services, as they were given transparency throughout the entire onboarding and implementation process, as well as a successful solution that saved the company time and costs. The client was also pleased with DWAC Online’s functionality and EQ’s dedicated team of relationship management and onboarding experts who guided them through the entire process of switching providers.
Additionally, this company has also elected to utilize EQ’s annual meeting services, D.F. King’s proxy advisory services, and engaged EQ to serve as their standby rights agent as a result of the quality service EQ provided in this situation. EQ continues to provide this client with the benefits they were in search of due to the experience they had with their prior transfer agent.
About EQ
EQ are specialists in helping you better understand and manage the ownership of your company through critical events across the corporate lifecycle. As trusted advisors, we provide strategic insight and operations expertise through our core business units in Private Company Services, Transfer Agent Services, Employee Plan Solutions, and Proxy Services. Globally we serve 6,700 clients (49% of the FTSE 100 UK and 35% of the S&P 500), with over 40 million shareholders, through 6,000 employees in 5 markets around the world.
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