Chapter 8. Statements, Communications, and the “Dreaded” Prospectus

Whoever said we would become a paperless society was mistaken when it comes to the financial industry. Though online access has evolved, and many firms are moving toward e-statements for regulatory reasons, the financial industry is far from paperless. Clients can frequently be inundated and overwhelmed with what arrives in their mailboxes—much of it thrown out, unread. Investors receive statements for each account, usually on a monthly basis, annual reports, prospectuses, proxies, and so on. As one of my clients lamented to me one time, “I feel sorry for my mail carrier.” I also find many of my client review meetings begin with a mail sorting session and a discussion about ...

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