“Following a review of Registrar service providers, it is very possible that we will seek to engage the services of Equiniti. Before doing so, we would find it helpful if anyone is able to offer some feedback regarding recent experience of Equiniti’s quality of registrar services and perhaps their share schemes administration?”
With all organisations they are only as good as the people who work in them so experience will vary from person to person. We’ve found share schemes administration to be good and whilst the registar services were fine the client facing part of the service was not so good. Poor communication, especially as to costs and the continual hard sell of services. That we decided to move registrars probably says it all.
We have been a client since 2002 and previously with other Companies I have worked at. I would entirely agree with the above. The Registrar service is excellent, but the Share Plans side less so.
I would also agree that initially after the sale from Lloyds, the excellent service levels began to fall off, however this was dealt with in their usual open and honest way and reversed relatively quickly, and I would say Registrar side services are back up to where they were.
We have had client specific service level data regularly for around four years now.
It would be interesting to hear from someone who has moved regsitrars recently what their experience has been of the difference in service levels.
My past experience with Equiniti is that they are a very good Registrar. Some of the client managers are better than others (e.g. better at organising / following up with other functions to give seamless service), however they provide a very good service.
Must agree with the previous response that while their share scheme administration is fine, it does not meet the same performance level as the registrar service. That said, once you have agreed processes in place with them, the service can be very good. It will just require extra work at the outset to ensure processes are aligned.
I have always found Equiniti’s registrar services to be very good, especially in respect of any corporate actions undertaken. My only issue with the service over the years was the lack of client specific service level data, however my understanding (as i am no longer a client) is that their new software platform does deliver such data.
Their share scheme administration is OK, my impression over the years is that they have always struggled to raise it to the same height as the registrar service.
Lastly, there was an impression that when the business was sold by Lloyds the new private capital owners stripped out much cost and also some of the benefits. This was reflected in their fall in standing in client surveys. Again i believe this has now been remedied.
Large Financial Services Group with 70,000 shareholders. We have a 3 year contract with Equiniti, having outsourced the register to Lloyds TSB Registrars in the 1990s and renewed several times. A good team of specialists and client services (who are responsive and have some good added value ideas). We can rely on experienced teams supporting our AGM and dividends payments. No recent significant service problems. We use separate share plan providers for Exec and all-employee Schemes.