Lakewood90712
Thinks s/he gets paid by the post
- Joined
- Jul 21, 2005
- Messages
- 2,223
Mom has some shares in a Putnam Fund. This is one that was a direct purchase, not thru a broker dealer. She always tosses the proxy vote stuff, has no interest in the votes.
This time something stinky is happening. Got a call on her phone, after my probing it was from " Computershare" The firm that processes share voting for almost all mutual funds and stocks. Ok, I am convinced this is not a scam call.
This is a vote on a proposal to give the directors voting power for share owners, again, not unusual.
Here is the rub:
First time I have ever herd of, in 35 years of owning stocks and funds, A fund management company is having the vote tabulation company calling share owners. And just who is paying for this special personal call ? The shareowners ?.
This smells bad, Next call is to Putnam Legal dept. If they don't want to talk, It's off to a formal FINRA complaint.
Putnam has gotten into legal trouble before, as have many of the mutual fund companies. I guess over time, they forget lessons learned.
Stay Tuned.............
This time something stinky is happening. Got a call on her phone, after my probing it was from " Computershare" The firm that processes share voting for almost all mutual funds and stocks. Ok, I am convinced this is not a scam call.
This is a vote on a proposal to give the directors voting power for share owners, again, not unusual.
Here is the rub:
First time I have ever herd of, in 35 years of owning stocks and funds, A fund management company is having the vote tabulation company calling share owners. And just who is paying for this special personal call ? The shareowners ?.
This smells bad, Next call is to Putnam Legal dept. If they don't want to talk, It's off to a formal FINRA complaint.
Putnam has gotten into legal trouble before, as have many of the mutual fund companies. I guess over time, they forget lessons learned.
Stay Tuned.............