Wednesday, June 19, 2019

What Is a Transfer Agent?



The recipient of an MBA in finance from Boston College Carroll School of Management, Scott Bushley is an experienced finance and business operations executive who serves as a partner with Granite Point Capital. In this capacity, Scott Bushley is responsible for providing strategic direction to operating functions and managing fund services such as fund accountants and transfer agents.

Responsible for maintaining account balances and records of investors, transfer agents are banks, trust companies, or other financial institutions assigned by a corporation. They work closely with a registrar to make sure investors receive dividends and interest payments in a timely fashion and distribute investment statements each month to mutual fund shareholders. They are also vital in the purchasing of a security by new investors, as they're tasked with issuing electronic ownership certificates.

Beyond these monthly responsibilities, the transfer agent works in conjunction with a registrar to deliver investors year-end federal tax information. This includes reporting on interest paid, dividends, and security trades that took place in the past year.