This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Unclaimed Property Administration Service From Boston Financial Designed To Help Fund Companies Preserve Assets

QUINCY, Mass., Feb. 6, 2014 /PRNewswire/ -- Boston Financial Data Services, Inc., a premier provider of outsourcing services to the asset management industry, today announced an agreement with Keane, one of the nation's leaders in unclaimed property communications, compliance, and consulting services, to jointly deliver a comprehensive unclaimed property administration solution to clients.

The offering expands Boston Financial's lineup of unclaimed property services, which currently includes identifying property at risk of escheatment, managing investor outreach and communication, and performing the reporting and remittance tasks associated with the escheatment process. (Escheatment is the process of identifying financial accounts that are considered abandoned and remitting the funds to the appropriate state if the customer cannot be contacted to re-activate the account.)

Boston Financial clients will also have the opportunity to access Keane's consulting services, including audit assistance and support, compliance and risk analyses, and liability mitigation programs.

According to Craig Hollis, a Managing Director at Boston Financial, the alliance with Keane will give Boston Financial clients access to advanced, discretionary shareholder location searches that go beyond those that are federally required.

"Asset managers are devoting more time and resources to understanding and meeting their compliance obligations in the area of unclaimed property," says Hollis. "Through our association with Keane, we can help these firms better manage and satisfy their federal and state requirements and help them preserve assets under management by preventing unnecessary escheatment of shareholder accounts."

Difficulties in complying with differing state rules along with an increase in third-party audits are presenting serious challenges to asset managers. 

"Boston Financial's shareholder servicing capabilities perfectly complement our suite of compliance and regulatory services," says Nick Nichols, Chief Operating Officer at Keane. "Through this alliance, asset managers will have one-stop access to the most comprehensive set of unclaimed property solutions available in the marketplace today."

About Boston Financial Boston Financial Data Services is one of the industry's premier outsourcing providers servicing the mutual fund and employer retirement plans markets. Boston Financial is a joint venture between DST Systems, Inc. of Kansas City, MO., and State Street Corporation (NYSE: STT) of Boston, MA. This joint venture has enabled Boston Financial's clients to utilize DST's industry-leading software and technology while benefiting from the institutional support and global reach of State Street. For more information on Boston Financial, visit www.bostonfinancial.com.

About Keane Keane is the country's leading provider of comprehensive unclaimed property solutions. From customized communication programs to in-depth consulting and annual compliance outsourcing, Keane provides corporations, mutual funds, banks, brokerages, insurance companies, and transfer agents with a full suite of professional services. Keane employs more than 190 people across the country in its New York, NY headquarters, main operating facility in King of Prussia, PA, and various satellite offices. For more information on Keane, please visit www.KeaneUP.com.

Media Contact Information: Ann Marie MierzykowskiBoston Financial Data Services, Inc.617-483-8109

SOURCE Boston Financial

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,102.38 -272.38 -1.66%
S&P 500 1,921.22 -29.91 -1.53%
NASDAQ 4,683.9190 -49.5780 -1.05%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs