Category: Event Center, Innovation, Smart Sourcing

Who Do You Call When You are Faced with Business Unusual?


dilemmaIn 1984, one of our mutual fund clients, who was also in the insurance business, had a dilemma. They were faced with a class action settlement, but didn’t know where to begin. Boston Financial jumped in to help them, and that was the start of our Event Center. Since then, our Event Center has provided solutions to clients when they have been faced with business unusual challenges. In a perfect world, clients would be able to focus their resources on day to day priorities and core businesses, but inevitably, unique situations present themselves. These include things like corporate actions, regulatory mailings or special notifications, inbound and outbound call campaign needs, class action settlements, mass distributions, inactivity or low balance notifications, just to name a few.

When one of these occurs, a client is faced with a number of questions. Do I try to handle it internally with existing resources or temporary staff? If I divert existing resources, what is going to give? Who can plan and manage it? What’s the best way to handle it quickly and cost effectively? Should I outsource it? Have other firms faced this challenge?

Over the past 20 years, numerous companies have chosen to outsource these situations to Boston Financial’s Event Center and continue to do so. In many cases, they are existing clients of ours, so we are already an approved and trusted provider, eliminating the data security, legal, and subject matter expertise concerns normally associated with an unknown third party vendor. Due diligence needs are minimal, so the time to implement a solution is greatly reduced.

Leveraging our flexible staffing model to volume match resources with client needs, we are able to offer timely and cost effective solutions to address their challenges. We have deep expertise in executing these types of events, developing best practices that have led to greater efficiency and high quality service delivery.

call center reps

When our Event Center began, we were mainly providing services for class action settlements and unique events, but needs have changed based on what has been happening in the industry. Over the past few years, regulatory changes and concerns have really been driving the areas where companies need support. For example, a few years back we worked with many clients on cost basis notification and solicitation projects, and more recently on initiatives to make contact with inactive shareholders to safeguard their assets from escheatment.

Companies recognize the value in strategically outsourcing work, especially for one-off types of situations, and our Event Center has been here for 20 years to support them.

Carol McGrath-Pestilli

Carol McGrath-Pestilli

Carol joined Boston Financial in 1990 in the Mutual Fund business line. As Carol moved forward, she combined her financial industry acumen with her previous experience with engineering and mathematics to participate in numerous improvement studies. Carol joined the Settlement Administration team in 1995 and today acts as the Senior Settlement Consultant. She works closely with all parties involved, spearheading Boston Financial's efforts in the early stages of the settlement development.


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