No, your direct stock purchase in Procter & Gamble stock (PG) didn’t disappear. After using Computershare as its stock transfer agent for the past three years, Procter & Gamble switched to Wells Fargo Shareowner Services on June 9th.
However, when Procter & Gamble commenced the switch last Friday, the shares just disappeared from the accounts of those that had been dripping through Computershare as if the position had vanished. The next day, a message appeared to great those logging into Computershare that Procter & Gamble was switching transfer agents to Wells Fargo Shareowner Services.
That wasn’t the end of issues relating to acceptable prior notice. It wasn’t until this past Monday June 13th that Wells Fargo Shareowner Services began mailing out notifications to create accounts to view their Procter & Gamble investment position, meaning most people were locked out of their holdings from the 9th until the 13th, 14th, or … Read the rest of this article!