Washington D.C. –April 9, 2019. NICSA announced today the release of the 2019 NICSA Transfer Agent Compliance Guide. The guide provides members of the global asset management industry with a onestop, comprehensive resource of current compliance updates and standards as they relate to the transfer agent function.
NICSA’s Transfer Agent Committee, which meets regularly to monitor and discuss trends in mutual fund transfer agent operations, compiled this centralized listing of laws, rules and regulations applicable to mutual fund transfer agents as a service to the transfer agency community. Reed Smith, a global law firm and a long-time NICSA member, vetted the citations identified by the Committee and authored Chapter introductions. The guide was produced by Donnelley Financial Solutions (DFIN), a leading global risk and compliance company and active NICSA member.
Jim Fitzpatrick, President of NICSA, stated, “NICSA’s mission is to provide a platform for industry participants to collaborate and advance best practices, and the NICSA Transfer Agent Compliance Guide is a great example of our mission statement in action. Serving as an educational resource, it leverages the depth of expertise within one of NICSA’s longest standing committees, the TA Committee. We’re very pleased to partner with Reed Smith LLP and DFIN – two thought leaders and highly regarded NICSA members – to provide this valuable benefit to our membership.”
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Wellesley, MA—June 29, 2005—The National Investment Company Service Association (NICSA) announced at the trade-association’s annual General Membership Meeting the election of a new officer, Vice-Chairman, and the election of four Directors to its Board.
Peggy Schooley, President of Evergreen Service Company was elected to the new office, Vice Chairman. Peggy joined Evergreen in 2005 from Pioneer Investments, where she was President and CEO with responsibility for the Pioneer Investment Management Shareholder Services, Inc. organization. She has over 20 years of experience in the mutual fund industry and has served for many years on the ICI Operations, Broker/Dealer, and Transfer Agent Committees and various NICSA committees. Peggy has served on NICSA’s Board since May 2003.
Also at the annual General Membership Meeting, NICSA elected the following industry executives to its Board of Directors. Each will serve for a six-year term.
New Board Members
James (Jim) Deats is a Merrill Lynch Director and Senior Vice President of Financial Data Services, Inc. Jim is responsible for managing Fund Administration, the United Kingdom Transfer Agency and Asset Transition Services (ATS), within Financial Data Services, Inc. Jim actively manages the Firm’s relationships with and operational processing for over 140 Non-Merrill Lynch Domestic Mutual Fund Companies and over 40 Merrill Lynch and Non-Merrill Lynch Offshore Mutual Fund Companies. Additionally, he manages the Transfer Agency for the Merrill Lynch United Kingdom mutual funds distributed outside of the MLPF&S distribution network. In the ATS organization, Jim is responsible for monitoring the transfer of client assets at Merrill Lynch through partnerships with over 3,000 other Financial Institutions.
Jim began his career with Merrill Lynch in 1986. He has held various positions within the organization.
Paul Heller is the Principal responsible for overseeing Vanguards Core Retail business that provides service to approximately four million clients with over $150 billion in assets. His major areas of responsibility include Client Services, Processing Services, Small Business Services and Shareholder Control. Paul has been with Vanguard for 20 years and his experience over the prior decade includes: overseeing the Institutional Defined Contribution business, the Systems Integration Division of Information Technology, and leading Vanguards Investment Only business. Prior to joining Vanguard in 1984, he worked for Mellon Bank in Philadelphia
Stephen Hooley is President and Chief Executive Officer of Boston Financial Data Services, Inc. Steve has more than 19 years of domestic and international experience in the financial services industry and specializes in the areas of strategic projects and business development.
Prior to joining Boston Financial, Steve served 11 years with State Street Corporation. In his most recent role as Senior Vice President, Steve oversaw the Deutschebank Global Security Services integration. Prior to this Steve managed the Retirement Services business for State Street. Steve’s experience also includes seven years with Texas Instruments where he was responsible for the large multi-national accounts.
Stephen Welsh is President of Columbia Funds Services, Inc. (CFSI). His scope of responsibility includes all transfer agency operational and client service functions for the $200 billion Columbia Management Group (CMG) retail and institutional mutual funds. Steve has more than 22 years of experience in the financial services industry, much of this time concentrated in mutual fund operations.
Prior to his current role, Steve was Senior Vice President with the Columbia Management fund administration division. In this role he oversaw the fund accounting and financial reporting functions for the Fleet and Columbia Common and Collective Trust Funds. Prior to this Steve held the role of SVP, Controller and Treasurer of Columbia Funds Services and was responsible for all audit, tax, budget, and treasury functions, as well as the mutual funds control group. Prior to joining CMG Steve worked for The Bradford Trust Company of Boston in their internal audit, corporate finance, and mutual fund operations divisions.
“Each of these individuals will add great expertise and industry knowledge to the NICSA Board, as well as a proven commitment to the association,” said Barbara V. Weidlich, President of NICSA. “We are fortunate to have each of these outstanding individuals join the organization’s Board.”
About NICSA
The National Investment Company Service Association (NICSA) has provided leadership and innovation in educational programming and information exchange within the operations sector of the worldwide investment industry since 1961.
NICSA membership totals more than 400 companies operating in major financial centers in the United States, Europe and Asia. The membership represents all segments of the mutual fund industry including: mutual fund complexes, investment management companies, custodian banks, transfer agents and independent providers of specialized products and services.
NICSA’s services to members include regional meetings throughout the United States, and Europe offering a wide range of information on industry issues and developments; an annual operations conference; and specialized seminars and meetings. NICSA also offers an On-Line Learning Center featuring the Certified Fund Industry Specialist Program, the first-ever certification program of its kind.
McLean, VA, October 5, 2017—NICSA announces the kick off of its General Membership Meeting, Leveraging Innovation to Drive Growth, on October 5. Leaders in the asset management industry converge in Boston to share their insights regarding developments in innovation and opportunity. Attendees will have access to diverse perspectives from all segments of the industry on key business themes, including FinTech applications, product and distribution trends, and human capital management strategies.
Keynote presentations will include Paul Schott Stevens, President and CEO of the Investment Company Institute, as well as Jeremy Gutsche, CEO of TrendHunter.com, one of the most sought-after authorities on disruptive innovation. The conference will also feature a Chief Technology Officer Roundtable, ReImagining Asset Management, where high level executives from industry innovators Eaton Vance, Morgan Stanley, and Putnam Investments will explore how financial institutions can leverage technology programs to drive growth.
Miami, Florida - February 18, 2008 - The National Investment Company Service Association (NICSA) announced today that Theresa Hamacher, CFA has been named President of the association, effective March 3, 2008.
"NICSA is very fortunate to have Theresa joining the organization," said Peggy Schooley, President of Evergreen Service Company and Chairman of NICSA. "We are very certain that her managerial experience, her non-profit experience and her contacts and relationships from the investment side of the business, as well as her enthusiasm for the NICSA message will strengthen our future." Schooley made the announcement before an audience of about 750 investment industry executives at the trade groups annual gathering at the Doral Golf Resort in Miami.
Theresa is the former Chief Investment Officer (CIO) for Pioneer Investment Management USA in Boston, MA, where she supervised a team of over 50 investment professionals managing more than $15 billion in global equity and fixed income assets for mutual fund and institutional clients. Previously, she was the CIO for Prudential Mutual Funds in Newark, NJ where she supervised over $60 billion in assets.
She began her career as an investment professional in 1983 and has managed portfolios with varying mandates and investment approaches. In 1984, she ran the top-performing mutual fund in the U.S., the Prudential-Bache (Tax-Managed) Utility Fund. She has appeared on "Wall Street Week".
An independent consultant and writer, Theresa is the co-author of The Pocket Idiots Guide to Investing in Stocks. She has been actively involved in not-for-profits in her community and currently serves as the President of the board of directors of The Guidance Center, Inc., a provider of developmental, mental health and family support services to children and families in Cambridge and Somerville, Massachusetts.
Theresa is a graduate of Yale College, with a major in Economics. She is a Chartered Financial Analyst.
Theresa succeeds Barbara V. Weidlich, who left NICSA in November 2007.
Contact:
Ellen Weinraub
Marketing Director, NICSA
508-683-1613
About NICSA
The National Investment Company Service Association (NICSA) is a not-for-profit trade association providing leadership and innovation in educational programming and information exchange within the operations sector of the investment industry worldwide.
NICSA membership totals more than 400 companies operating in major financial centers worldwide. The membership represents all segments of the mutual fund industry including mutual fund complexes, investment management companies, custodian banks, transfer agents and independent providers of specialized products and services.
NICSA’s services to members include education, training and networking opportunities through conferences on a wide range of industry issues and developments, specialized publications, and access to a huge network of industry professionals in NICSAs membership directory. NICSA also offers the Certified Mutual Fund Specialist Program, the first-ever on-line learning certification program of its kind.
NICSAs website (nicsa.org) offers up-to-date information about all of the Associations programs and activities.
Contact:
Alyssa Gagen
Director of Social Media and Marketing, NICSA
508-485-1500
McLean, VA, August 21, 2014—NICSA, in partnership with Money Management Executive, proudly announces the winners of the 2014 NICSA/NOVA Awards, the Robert L. Gould Award, and the NICSA Lifetime Achievement Awards. These individuals and firms will be honored on September 11, 2014 in Boston at the 2014 NICSA General Membership Meeting.
OUTSTANDING SERVICE TO THE FUND INDUSTRY– ROBERT L. GOULD AWARD
Winner: Robert Tritt, Executive Vice President, DST
NICSA FUND INDUSTRY LIFETIME ACHIEVEMENT AWARD
Winner: Joan Dowd, Chief Compliance Officer, Boston Financial Data Services, Inc
INNOVATION IN BACK OFFICE OPERATIONS
Winner: Janus Capital Group, Global Technology and Operations
Honorable Mention: DST U.S. Investment Record Keeping Solutions, Alternative Investments
INNOVATION IN CUSTOMER SERVICE
Winner: OppenheimerFunds, Operations - Processing
CREATIVITY IN MARKETING OPERATIONS
Winner: Eaton Vance, Marketing Department
VISIONARY LEADERSHIP AWARD
Winner: Nancy A. Wiser, Wells Fargo Asset Management
Winner: Bob Adams, Executive Vice President, Fidelity Investments
These awards recognize outstanding service, creative, effective and operationally efficient efforts by fund companies and individuals who strive to serve clients, build business and improve overall service experiences.
“These 2014 honorees exemplify NICSA’s core values and are models for dedication, excellence, and leadership within the global investment community,” said Theresa Hamacher, President, NICSA. “We are especially proud to announce the winners of the Robert L. Gould Award and the NICSA Fund Industry Lifetime Achievement Award, two of the most prestigious awards offered to industry leaders who have gone above and beyond the call of duty within their organizations and the industry as a whole.”
Nominations were collected and winners were determined by an independent judging panel comprised of industry experts. Each submission was blindly scored to determine a winner in a number of award categories
For more information about NICSA, visit our website.
About NICSA
NICSA is a not-for-profit trade association founded in 1962 that provides the global investment management industry with discussion and education forums to better serve its customers by developing operational best practices. NICSA forums enable associates of asset managers, distributors, and service providers to collaborate to establish standards for operational best practices to assist compliance with regulations and continuously improve operating performance; stay up-to-date on the latest developments through education and information sharing; learn about trends in all types of investment vehicles, including mutual funds, hedge funds, unit investment trusts, UCITs and ETFs and connect members with peers to network and learn from each other, and foster skills that can help advance careers. For more information, visit nicsa.org
Contact:
Ellen Weinraub
Marketing Director, NICSA
508-683-1613
Marlborough, MA — April 9, 2009 — As the industry copes with the challenges of doing business in touch economic times, so must NICSA, a not-for-profit trade association which has served the mutual fund industry for over 47 years. “We are responding to the times”, says NICSA president, Theresa Hamacher, CFA. “We are offering new solutions to mutual fund industry professionals, but we are also holding true to our values”. That’s especially evident as NICSA rolls out it’s spring calendar of events aimed at providing free education for all aspects of investment industry operations.
We are doing a number of new things to help keep the industry informed and connected, including a series of short conference calls updating the members on hot topics, called “NICSA Now Briefings, ” webinars and networking through Linkedin. NICSA’s committees will be offering relevant educational sessions via webinars, which will be archived for members to view at their convenience. NICSA has always been known for providing high quality, independent educational content. In this environment of strained budgets and needing to do more with less, NICSA is offering more desktop delivery of programs for the industry ultimately preparing them to better serve their shareholders.
Spring webinars, which will be free to NICSA members and offered at a nominal fee to others, include:
Beginning in April, a series of NICSA Now Briefing Calls is planned to discuss the effects of changes in 403(b) Regulations.
Even in this environment, NICSA is not counting out live conferences, but they are not business as usual either. In May and June, NICSA will host shorter, local events that will keep members up to date at a very nominal out-of–pocket cost. Look for these in Denver, Kansas City, Milwaukee, Los Angeles and Boston. Information is available at nicsa.org.
About NICSA
The National Investment Company Service Association (NICSA) provides leadership and innovation in educational programming and information exchange within the operations sector of the investments industry worldwide.
NICSA was established in 1962 as a forum for operations and shareholder servicing professionals in the mutual fund industry. Today, NICSA membership totals more than 250 companies operating in major financial centers around the globe, and includes mutual fund complexes, investment management companies, custodian banks, transfer agents and independent providers of specialized products and services.
For more information, visit nicsa.org
McLean, VA, February 13, 2017 —NICSA is pleased to announce the release of a new white paper to its member firms: Broker/Custodian Resignations, An Assessment of Firm Preparedness and Current Practices. The Department of Labor’s fiduciary rule—whether delayed, altered, or implemented in April 2017—has thrust an increased complexity onto client servicing and puts critical process development squarely at the forefront of 2017 business planning for the financial services industry.
A recent survey, developed by senior members of the Association’s Risk and Compliance and Transfer Agency Committees, was distributed among NICSA member firms to gauge current industry preparedness for a potential surge in dealer/custodian resignations and to open a dialogue about procedural development. The results of the survey informed this white paper and are presented with the intention of illuminating the issues, highlighting the implications, and helping those affected to make better-informed decisions using the perspectives of their industry peers.
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Marlborough, Massachusetts – September 8, 2008 – NICSA (The National Investment Company Service Association) announced today that it has launched the mutual fund industry’s first “transparent” conference. For the first time ever, the trade association will offer online access to session content for a highly-regarded industry conference, as well as the opportunity to interact with speakers and event participants – before, during and after the event.
In an innovative approach to content delivery, NICSA’s Technology Summit 2008 will connect NICSA members and the fund industry at large, by providing online access to speaker presentations, video clips, relevant links and discussion boards about the sessions. In the weeks leading up to the conference, participants will be able to view content, comment about the topics and ask questions of the presenters. Input from these discussions will help shape the discussions at the live event.
“This open concept is part of NICSA’s plan to offer more desktop delivery to our members”, says Theresa Hamacher, NICSA’s president. “NICSA’s Technology Summit 2008, Innovate – Mobilize – Deliver, takes its theme quite literally, and offers a novel approach to business-technology content delivery. “ While desktop delivery will not replace the experience of attending a conference, it offers the convenience of anytime, anyplace access to NICSA’s high quality content. Those interested can participate in the virtual experience by visiting the association’s website, nicsa.org/Technology.
The live event is scheduled for October 26-29 at the JW Marriott Las Vegas Resort at Summerlin, and features industry experts addressing technology solutions to the current environments challenges. Those who participate in person will be treated to daily keynote addresses by IT thought-leaders, including the highly anticipated opening speech by MIT’s Nicholas Negroponte. Negroponte is one of the foremost futurists of our time, offering valuable insights on innovation, technology and their impact on business that few can match. He is the driving force behind One Laptop Per Child, a project to bring affordable computers to children worldwide.
Also in the works from NICSA are complementary conference call briefings on hot topics and a webinar series on fund distribution issues.
Contact:
Ellen Weinraub
Marketing Director, NICSA
508-683-1613
About NICSA
The National Investment Company Service Association (NICSA) is a not-for-profit trade association providing leadership and innovation in educational programming and information exchange within the operations sector of the investment industry worldwide.
NICSA membership totals more than 250 companies operating in major financial centers worldwide. The membership represents all segments of the mutual fund industry including mutual fund complexes, investment management companies, custodian banks, transfer agents and independent providers of specialized products and services.
NICSA’s services to members include education, training and networking opportunities through conferences on a wide range of industry issues and developments, specialized publications, and access to a huge network of industry professionals in NICSAs membership directory. Visit: nicsa.org
Contact:
Alyssa Gagen
Director of Social Media and Marketing, NICSA
508-485-1500
Boston, MA, October 1, 2014—NICSA proudly announces new additions to its Board of Directors including: George Batejan, Global Head of Technology & Operations, Janus Capital Group as the new NICSA Chairman of the Board of Directors along with Dan Houlihan, Senior Vice President, Northern Trust Company, who has been appointed as vice chair.
The NICSA Board of Directors has also elected three new members to its 2014-2015 roster: Anne Hebard-Duduch, Managing Director, Business and Product Development, Boston Financial Data Services; Lisa Hill, Managing Director, BlackRock; and Rheeta Wise, Senior Vice President, MFS.
Selections for newly appointed Board members were made among senior-level representatives from member asset management and broker-dealer firms and were voted in at the 2014 NICSA General Membership Meeting on September 11, 2014 in Boston.
“I am pleased to welcome this stellar group of industry leaders as members of the NICSA Board of Directors,” said Theresa Hamacher, President, NICSA. “Last year, NICSA continued to grow and improve its programs and services, and looking ahead at 2015, we have a lot of exciting new endeavors in store under this new leadership.”
Barry Benjamin, Partner, PwC will continue as the Treasurer on the NICSA Board of Directors.
If you are interested in learning more about NICSA, visit our website.
About NICSA
NICSA is a not-for-profit trade association founded in 1962 that provides the global investment management industry with discussion and education forums to better serve its customers by developing operational best practices. NICSA forums enable associates of asset managers, distributors, and service providers to collaborate to establish standards for operational best practices to assist compliance with regulations and continuously improve operating performance; stay up-to-date on the latest developments through education and information sharing; learn about trends in all types of investment vehicles, including mutual funds, hedge funds, unit investment trusts, UCITs and ETFs and connect members with peers to network and learn from each other, and foster skills that can help advance careers. For more information, visit nicsa.org
Contact:
Alyssa Gagen
Director of Social Media and Marketing, NICSA
508-485-1500
Boston, MA, November 5, 2014—Policies and procedures regarding beneficiary designations vary widely, concludes a NICSA survey of retirement plan administrators and individual retirement account custodians released today. The survey was conducted in June by NICSA’s Retirement Committee, with the assistance of the Insured Retirement Institute.
Beneficiary designations are important to consumers because retirement accounts are excluded from an investor’s estate upon death. Instead, the assets in the accounts are transferred to heirs according to the terms of the beneficiary designations provided by account holders.
The survey found little consensus among providers when it comes to policies for naming beneficiaries or for the documentation required after death. For example, there was no consensus on the appropriate default beneficiary when an IRA account holder fails to name a beneficiary. Only 30% of respondents name the estate as the default beneficiary, while 43% designate a surviving spouse and then the estate, and 22% distribute first to a surviving spouse and then to children -- and only after that to the estate.
Even in policy areas where there was more consensus, there was rarely unanimity. Few survey responses received close to 100% support.
Because of the variance among firms, investors and their beneficiaries working with more than one provider could well be subject to multiple policies and will likely need to provide each provider with different information.
“There’s usually a lot more consistency in operational policies in the asset management industry than there is here,” notes Theresa Hamacher, NICSA’s President. “We hope that the survey generates a dialogue about policies for beneficiary designations.”
Beneficiary designations can be very complex, which means that administering them often involves considerable manual processing. In fact, only 1 in 4 survey respondents have an online capability that enables investors to update designations themselves.
Complete survey results are available to NICSA and Insured Retirement Institute members at nicsa.org and www.irionline.org.
About NICSA
NICSA is a not-for-profit trade association founded in 1962 that provides the global investment management industry with discussion and education forums to better serve its customers by developing operational best practices. NICSA forums enable associates of asset managers, distributors, and service providers to collaborate to establish standards for operational best practices to assist compliance with regulations and continuously improve operating performance; stay up-to-date on the latest developments through education and information sharing; learn about trends in all types of investment vehicles, including mutual funds, hedge funds, unit investment trusts, UCITs and ETFs and connect members with peers to network and learn from each other, and foster skills that can help advance careers. For more information, visit nicsa.org
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