Private companies can benefit from retaining a professional transfer agent. I had written about this for our company web page - see the link below. If there is a lot of growth in the number of shareholders on your register, if you are a dividend paying company, if the quality of the shareholder recordkeeping is poor ( missing addresses, inconsistent structure of the data being kept, incomplete share registrations) and if data security concerns exist - you should retain one. See the link below for more information. I would be happy to discuss - send me a note.