Griffin Capital Adopts Phoenix Transfer's Electronic Subscription System

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Aug 12, 2010, 08:15 ET

SAN RAFAEL, Calif., Aug. 12 /PRNewswire/ -- Phoenix Transfer, Inc. announced that El Segundo, CA-based Griffin Capital is the first client to adopt Phoenix's Electronic Subscription System. Financial advisors and investors will jointly submit new investments, transfers, and other investor forms directly to Phoenix Transfer in a secure electronic format through ESS, part of the STAR 2010-XMS.

STAR's electronic subscription utilizes the sponsor's forms and customizes them as an interactive and intelligent document. This creates straightforward data fields and drop-down menus making the form simple to fill out and print. Automatic alerts prevent many common errors. With a click, the subscription is sent to the designated account team at Phoenix Transfer via STAR's secure Web Portal and immediately processed. Griffin's CFO Joe Miller states, "We believe this system can revolutionize the industry. ESS is convenient and increases the speed and accuracy of new submissions. Phoenix created and customized an online tutorial for advisors to access on our portal so they can begin using ESS right away."

Clients who use the Phoenix Electronic Subscription System are able to:

Execute transactions immediately while the client is in the advisor's office
Avoid errors, misspellings and omissions with intelligent interactive forms
Establish direct media contact between advisors and Phoenix Transfer, thereby reducing the lag time associated with issue resolution items
Reduce turnaround time by 48 hours, thereby accelerating the investment admit and commission compensation dates
Retain online copies of all transaction records
24/7 availability

Completed forms are savable to the advisor's computer hard drive, reducing reliance on paper archives, and are easily searchable in the STAR 2010-XMS system. Tony Olivo, Senior Account Manager at Phoenix Transfer, said, "Griffin Capital is taking full advantage of today's technological advances that are offered in the STAR 2010-XMS system. Their forward-thinking support of this innovative system will likely show results in their bottom line."

ABOUT PHOENIX TRANSFER

Phoenix Transfer, a subsidiary of Phoenix American, Inc., established in 1972, provides transfer agent services as well as sales and marketing reporting services to companies in the alternative investment and mutual fund industries. In addition, Phoenix American provides full-service corporate accounting and tax services to companies specializing in financial services and securitization. Phoenix is also a premier provider of aircraft securitization administrative services.