PRE-ESCHEAT SERVICES OVERVIEW
The Altman Group’s Pre-Escheat Service is employed by mutual funds as an end-to-end solution for shareholders who are lost, deceased, or overseas, etc. The simple fact is these mutual fund customers have not responded to multiple mailing(s) by the fund transfer agent. In addition to measures taken for compliance with SEC Rule 17ad-17, our experience is that these “lost” holders are not likely to come forward to reactivate their accounts unless a pro–active campaign is undertaken to locate and assist them in doing so.
The Altman Group’s Pre-Escheat Service is designed to locate, contact and assist mutual fund shareholders who are in jeopardy of escheatment in order to reactivate their accounts. The primary consideration of our Service is to retain assets in a respective mutual fund.
Whether the affected shareholders need legal documents, or just need to be guided through the process, we ensure that the shareholders are aware of the Service and of all the options available to them. It is absolutely voluntary for the rightful owners, and we fully disclose the asset value and origin. We assess fees on participating shareholders for assisting them, and they still retain their right to reactivate the account for free via the transfer agent.
Hiring Altman for Pre-Escheat Services is a turnkey solution. The Services are managed internally at The Altman Group from start to finish, as we do not rely on outside third parties for any component of our Services, with the exception of credit research bureaus, government agencies and public records. The Service includes simplified and innovative research and response methodologies that yield 75% resolution rates within two three fiscal quarters.