Paper stock certificate

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4nursebee
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Paper stock certificate

Post by 4nursebee »

circa 1957, affiliated fund, perhaps started in 1934. How do we track down value now? Has anyone gone through this?

Thanks.
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alex_686
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Re: Paper stock certificate

Post by alex_686 »

Is it still valid? At that age most certificates have been deemed lost because people haven't kept up with address changes, name changes, corporate mergers, etc. As such they would have been escheated to the state. Are you getting annual statements and dividend checks?

After that, what is your question? You could keep them in. I would recommend getting them reregistered into a standard brokerage account.
Former brokerage operations & mutual fund accountant. I hate risk, which is why I study and embrace it.
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Cuttlefish
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Re: Paper stock certificate

Post by Cuttlefish »

4nursebee wrote: Mon Jan 22, 2024 2:10 pm circa 1957, affiliated fund, perhaps started in 1934. How do we track down value now? Has anyone gone through this?

Thanks.
I had a similar problem with my uncle’s paper stock certificates once he got dementia and I had to handle his financial affairs. I sent the paper certificates to his stock broker. I believe his broker was able to get the shares recorded electronically.
Man plans — God laughs.
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4nursebee
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Re: Paper stock certificate

Post by 4nursebee »

alex_686 wrote: Mon Jan 22, 2024 2:19 pm Is it still valid? At that age most certificates have been deemed lost because people haven't kept up with address changes, name changes, corporate mergers, etc. As such they would have been escheated to the state. Are you getting annual statements and dividend checks?

After that, what is your question? You could keep them in. I would recommend getting them reregistered into a standard brokerage account.
My question is how to handle this?
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DrChronzworth
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Re: Paper stock certificate

Post by DrChronzworth »

I would reach out to Lord Abbett since the stock certificate sounds like it belongs to the Lord Abbett Affliated Fund which started in 1934. As transfer agents they should know what to do.

Given 10k in the fund in 1950 would now be worth 17 million it’s definitely worth your while to investigate.

According to the prospectus of the fund:

“Call one of our customer service representatives at 888-522-2388 Monday through Friday from 8:00 am to 5:30 pm Eastern time. To establish contact with us under certain states’ abandoned property rules, you will need to provide your name, account number, and other identifying information.”
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Watty
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Re: Paper stock certificate

Post by Watty »

Something else to look into is whose name is on the stock certificate.

They is a good chance that they are no longer alive so you would need to figure out how to establish that the funds should be yours. I do not have a clue how that works.
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4nursebee
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Re: Paper stock certificate

Post by 4nursebee »

Both parties alive.
$10 in 1957, not 10K...
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123
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Re: Paper stock certificate

Post by 123 »

Search out the identity chain based on the issuer name on the certificate if it has changed since issuance. Possible sources are google.com, sec.gov, and the Secretary of State business registration sites for the state involved. You could also check a site like newspapers.com (free trail period) for leads. Your local library may provide online access to historical Wall Street Journal or other business sites.

Once you identify a current contact for the certificate send them a copy of the certificate and request status information on the document. It's possible its a lost certificate that has already been replaced and handled separately (sold/transferred).

If the firm indicates its currently valid ask them the procedure to send in the original certificate to establish an in-house "book entry" holding record. If the owner's name has changed (possibly due to marriage and/or divorce) they should be asked how to get the updated name established on the record.

Once a book entry record is established you can transfer to the broker/custodian of choice.

Check unclaimed property records in all potential states involves for lost dividends that may have occurred.
The closest helping hand is at the end of your own arm.
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4nursebee
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Re: Paper stock certificate

Post by 4nursebee »

Update:

So we believe the paper certificate is really from one of the first mutual funds, likely started in 1934, The Affiliated Fund from Lord Abbett. Lord Abbett does not appear on the paper form. We called Abbett where a very knowledgeable person talked to us, said this happens all the time, to send the paper form to them along with a letter of instruction. We did what they said.

We got a letter back from them saying they could not locate an account holder, this despite having gone over this earlier on the phone, seemed to be a roadblock. We called again, offered another social security number to check, nothing showed up. But the guy on the phone said he would not have access to really old records. We asked them to return the paper certificate.

We plan to set up an in person meeting with a Fidelity rep over the next couple months, will ask them.

I've read of research services that will pursue this for 30% of the take.

Per another topic, might check unclaimed property on a couple other state web sites. viewtopic.php?f=2&t=419999&newpost=7709244
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HomeStretch
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Re: Paper stock certificate

Post by HomeStretch »

Checking state unclaimed property lists is a good idea.

Review old tax returns if available to see whether any tax forms related to this fund were reported.
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