Expert: Steven Taylor - 2/7/2012

Question
Hi Steven,

My grandfather purchased divident drip/reinvestment shares for all of his grandchildren on their 1st birthday. I don't know if he used a broker but I would assume that he did. I know which companies he bought them in and the amount but that is all that I know. I have contacted the trust companies and cannot find any record. Is there somewhere that I should search (free database) or do I need to call every brokerage in the city we grew up in? Thanks

Answer
Julia, if you know the Company's he bought the shares in, I recommend you contact each Company's transfer agent/registrar and see if they have you and other grandchildren on the ownership rolls. You can often find the name and contact information for the agent on each Company's website in the investor section.

You should also check the missing property departments of each State or Province in which your grandfather lived from the time of the purchase AND each State or Province of each grandchild. If the DRIP administrator lost contact, they would usually turn the assets over the government for safekeeping waiting for the owner to claim it. You can search many of them online for free at www.missingmoney.com and www.naupa.org.