Putnam Investments announced Wednesday that shareholders can now use their mobile devices to access their quarterly statements and other data on its website through the use of smartphone tags.
Michael Woodall, head of mutual fund shareholder services for Putnam, said in a statement, “Investors, like most Americans, increasingly rely on their smart phones to access the information they need. We are committed to enabling our shareholders to access timely, relevant information through every means possible. The new codes are another highly effective way for Putnam to stay in close regular contact with its customers.”
The codes were included for the first time with Q2 statements for shareholders whose advisors maintain their customer accounts on the Putnam record-keeping system. It is hoped that this method of delivery will encourage shareholders to adopt environmentally friendly and cost-effective electronic delivery of future quarterly statements.
Putnam uses Microsoft Tag Reader, which can be used on a number of mobile devices, including iPhone, Andoid, Windows Phone 7, and BlackBerry. It joins another application Putnam offers its shareholders, the Putnam PriceCheck&Save iPhone application, which enables participants in 401(k) plans to use their iPhone camera to scan the bar code of most sales items to register price, comparison-shop across other retailers to seek a lower cost, see the potential cost savings in terms of future monthly income in retirement and immediately direct the price differential into their 401(k) account.