Shareholder Satisfaction Surveys

All public companies that spend a six-figure sum or more on shareholders should be conducting periodic surveys of shareholder satisfaction: As we’ve written many times before, “If you don’t measure it, you can’t manage it.”

A few transfer agents conduct and share results of their own surveys with clients. And a few companies still commission an outside service provider to conduct them and report back. But honestly, it’s not too hard to do some periodic checking on your own, or as we say, “Try your own company’s cooking.”  Log in to the shareholder self-help-site and browse around; Call the toll-free number your T-A has assigned to you: See how long you have to wait – then ask a few questions a confused shareholder is likely to ask…and rate the answers you get. Are your shareholders - and you - getting what you have been promised - and what you  pay for? Many times you will be simply astonished by what you encounter!

Most important to note, do not place too much reliance on those Transfer Agent Comparison surveys - where the differences tend to be statistically insignificant - and where all the responses are averaged out without regard to often-major differences in the specific services received. Some of these surveys have what is know as “directional validity” in that really good and really bad actors sometimes jump out - but few if any have real “statistical validity” - due simply to the lack of a “homogeneous universe” that is being sampled.

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