The most valuable customers and shareowners are the ones you already have. A simple concept, and yet these valued accounts are lost every year in the scuffle of mergers & acquisitions, changes of address, and death. For the past thirty years members of Dunbar’s leadership team have been restoring financial institutions’ inactive accounts to minimize unclaimed property exposure and maximize the value of assets retained. Dunbar’s philosophy sets the groundwork for long lasting customer and investor relationships.
Owner Location and Inactive Account Re-Engagement
Forty million people move every year and many of them fail to report their new address to their financial institution. Using advanced search techniques, Dunbar specializes in finding lost or dormant shareowners and customers to retain a greater number of assets under management and minimize the total number of assets escheated to the states.
Restoring lines of communication with inactive shareowners and customers is an art and something we have spent decades perfecting. Utilizing its bespoke communication strategies, Dunbar’s seasoned team will exponentially increase the success rate of re-engaging accounts that might otherwise fall under state control.
Dunbar’s advanced search techniques satisfy SEC 17.Ad-17 regulations keeping our clients in compliance with the necessary time-sensitive searches to avoid audits and potential fines.
Beneficiary Location and Estate Recovery
Millions of people die every year. Dunbar specializes in asset recovery for deceased account owners on behalf of estate representatives, heirs, and beneficiaries.
Dunbar’s team has over thirty years of experience in locating and contacting estate representatives to assist in the complex and often arduous process of transferring a potentially escheatable asset to where it rightfully belongs.
Dunbar believes all beneficiaries and heirs should be contacted and made aware of any outstanding estate assets. This philosophy leads to a reduction of escheatable accounts which lower our clients unclaimed property liability and likelihood of penalties.
Post Merger Solutions
Following a merger, acquisition or reverse stock split, anywhere from 5% to 15% of un-exchanged shareowners unknowingly relinquish their rights of ownership. Obligatory letters of transmittal from transfer agents can be painfully tedious, leaving owners unaware of their own vulnerability and neglectful of their responsibility to send back paperwork in a timely manner. It takes a collaborative, anticipatory and deliberate strategy to ensure an organized response to an often-chaotic process.
Dunbar systematically links shareholders to what is rightfully theirs by using clear communication to help unexchanged shareholders understand the process. This creates a win/win resolution for all involved parties.
Corporate Asset Recovery
As with individual account owners, companies themselves are at risk of having unclaimed funds escheated to the states. Those companies at risk include any that have engaged in mergers or acquisitions, name or address changes, or considerable inter-business dealings. Dunbar’s advanced technology, systems and process, are used to recover corporate assets that have abandoned to various government institutions. Our team has had success recovering assets for many Fortune 500 companies.
Common forms of Corporate Unclaimed Property: Vendor Payments, Refunds & Rebates, Premium Refunds on Insurance Policies, Customer Overpayments.
Full Service Unclaimed Property Needs
Dunbar is a full-service unclaimed property firm. We specialize in the location and re-engagement of your dormant and lost customers and shareowners. Dunbar facilitates all of your unclaimed property needs including but not limited to the following items:
- Exposure Quantification and Analysis
- Annual Unclaimed Property Reporting and Escheatment
- Audit Defense
- State Required Due-Diligence Mailings
- Negotiation of Voluntary Disclosure Agreements
- Policies and Procedures
Dunbar leverages its network of industry specialists to provide our clients with the best resources based on their size and priorities.