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Reply to @hank: Always enjoy your comments Hank. You seem to be a logical and good natured individual. Not sure why I got caught up in this discussion. I never really understood what inflamed so much frustration to begin with... but we all handle situations differently.
Reply to @msf: I am embarrassed. I was almost sure that D shares were slightly more expensive than T shares. Maybe I saw some other shares. Oh well I have a very small position in JATTX held at Fidelity.
Addendum: Supervisor at D & C spoke frankly with me, rather than stonewalling me the way that the others did. She convinced me that it could very well have been, strangely, slow mail delivery that caused the delay, as opposed to the swift action by the OTHER new mutual fund I own, out of Minnesota. And she tells me that the problem was not with a separate Transfer Agent. She tells me that they do that stuff THEMSELVES. There is no prove-able, definitive explanation for the delay. And at long last, it occurs to me that the pre-printed envelope provided by D&C carried a pre-paid postal "stamp." On the other one to Minnesota, I had to affix a 1st class stamp, myself. That ALSO may enter into it. Nothing seems to need to make any sense anymore, as to how things get done. Logic doesn't matter anymore. Things either get done, or they don't get done. My buddy used to laugh about why mail delivery in Canada was so slow: the gov't was cow-towing to Quebec, he said. Huh? Yup, everything gets sent there; it is translated into French, then re-translated into English, and finally it gets sent to its real destination.
Thanks, Maurice. Guess what. It so happens that just today in the mail, I received the first statement from D & C, dated the 11th of April. State Street is in fact the "Custodian." Just to double-check, I called and asked who the TRANSFER Agent is. The wonderful person at the other end told me it was Boston XYZ, whatever it was. Hmm, that's funny, I said. That contradicts what I was told just earlier today. In fact, I was told that D & C does that work THEMSELVES, and there IS no transfer agent. Well, I'm sorry you were told that, but it is Boston XYZ who serves as our Transfer Agent. Guess I better talk to a Superv.
...She hooked me up with the same Superv. I had, earlier in the day. She told me: "As I told you earlier, Boston XYZ is our Transfer Agent."
I said, "that's NOT what you told me earlier. I'm going to hang up the phone now."
That latest conversation tears it. My money is headed out of D & C and into MAPOX. Either they have their heads up their asses, or they are just shamelessly LYING to me. "Business as usual" may be the accepted standard these days. That has to be good ENOUGH, lately. It is unfortunate. But when I get lied to or am confronted with such casually-served-up bullshit, that's when they lose my business.
I will look into just when the check was cashed, too. End of story. I will deal with D & C no more.
Googled "transfer agent Dodge and Cox", and the first return referenced the Dodge and Cox "statutory prospectus". From that prospectus:
"C U S T O D I A N A N D T R A N S F E R A G E N T State Street Bank and Trust Company, P.O. Box 8422, Boston, MA 02266-8422 (1-800-621-3979), and its global custody network act as custodian of all cash and securities of the Funds and receives and disburses cash and securities for the account of the Funds. Boston Financial Data Services, P.O. Box 8422, Boston, MA 02266-8422 (1-800-621-3979), acts as transfer and dividend disbursing agent for the Funds."
Additionally, there is a full page of Google references dealing with "Transfer Agent".
"The accuracy, completeness and timeliness of the Funds' account information provided is the sole responsibility of the transfer agent, which provides the information."
What's that noise I hear coming from San Francisco ? Is it a cable car, or the loud cheering at the Dodge & Cox headquarters that Max isn't going to invest with them. You'll so them Max, how will they be able to get along without your money.
Here is another bit of noise coming from San Francisco:
If a company's ethics, operating practices, or customer consideration are felt to be substandard or nonexistent, it is a reasonable choice to place your business with a competitive supplier of such services.
For example, it is for this reason that we have refused to do any business, of any sort, at any time with Bank of America or Wells Fargo.
They of course are not aware of this, but their competition seems quite happy to provide services at an acceptable level. The amounts involved are not insignificant.
And BofA, at least, seems to be finally reaping a bit of what they have sown.
Comments
Hope you had a good trip.
...She hooked me up with the same Superv. I had, earlier in the day. She told me: "As I told you earlier, Boston XYZ is our Transfer Agent."
I said, "that's NOT what you told me earlier. I'm going to hang up the phone now."
That latest conversation tears it. My money is headed out of D & C and into MAPOX. Either they have their heads up their asses, or they are just shamelessly LYING to me. "Business as usual" may be the accepted standard these days. That has to be good ENOUGH, lately. It is unfortunate. But when I get lied to or am confronted with such casually-served-up bullshit, that's when they lose my business.
I will look into just when the check was cashed, too. End of story. I will deal with D & C no more.
Googled "transfer agent Dodge and Cox", and the first return referenced the Dodge and Cox "statutory prospectus". From that prospectus:
"C U S T O D I A N A N D T R A N S F E R A G E N T
State Street Bank and Trust Company, P.O. Box 8422, Boston, MA 02266-8422 (1-800-621-3979), and its global custody network act as custodian of all cash and securities of the Funds and receives and disburses cash and securities for the account of the Funds. Boston Financial Data Services, P.O. Box 8422, Boston, MA 02266-8422 (1-800-621-3979), acts as transfer and dividend disbursing agent for the Funds."
Additionally, there is a full page of Google references dealing with "Transfer Agent".
The following are two excerpts from ⇒ the D&C Terms & Conditions of Use:
"The accuracy, completeness and timeliness of the Funds' account information provided is the sole responsibility of the transfer agent, which provides the information."
and
"the Funds use a third-party transfer agent"
Yup. Thanks for the quick reply. Cripes.
If a company's ethics, operating practices, or customer consideration are felt to be substandard or nonexistent, it is a reasonable choice to place your business with a competitive supplier of such services.
For example, it is for this reason that we have refused to do any business, of any sort, at any time with Bank of America or Wells Fargo.
They of course are not aware of this, but their competition seems quite happy to provide services at an acceptable level. The amounts involved are not insignificant.
And BofA, at least, seems to be finally reaping a bit of what they have sown.