Restoring lines of communication with inactive accounts and unclaimed property owners is an art — a delicate craft that is too often reduced to electronic searches and impersonal paper pushing. Dunbar helps you re-engage with the most valuable clients your company can have — existing ones — while generating results. Dunbar works with banks, brokerages, credit unions, and other financial institutions to locate owners of unclaimed property so that they don't need to turn the dormant account holder's money over to the states.
Abandoned property refers to property held by a business entity belonging to its customers where there has been no customer-initiated activity for a certain period of time. Laws surrounding abandoned property require the lost owner’s assets to be turned over to the custody of the state — a process known as escheatment — until it can be returned to the holder. Laws surrounding abandoned property require the lost owner’s assets to be turned over to the custody of the state, which is a process known as escheatment.
For unclaimed or dormant accounts, our specialists execute innovative strategies for re-engaging unclaimed property owners to reduce attrition and fine-tune communications before funds are escheated.
Nearly all investment firms, brokerage firms, and financial institutions will run into instances of inactive accounts. When you’re dealing with dormant bank, brokerage, mutual fund, investment, insurance, or other type of accounts, rest assured that Dunbar will implement effective outreach measures to make contact with their owners.
Dunbar can significantly reduce escheatment risk while improving retention on dormant and unclaimed accounts. Our services employ thorough research combined with strategic outreach campaigns to deliver measurable results, involving analyzing missing account holder data and assisting lost account owners in claiming their assets. Representing our clients’ interests, we work with an account owner in a respectful, effective manner, assessing the situation of each lost account owner and determining the ideal course of action to achieve a resolution by way of account reactivation.
In addition to finding unclaimed property owners, Dunbar offers the following solutions to help manage your unclaimed property:
If your financial institution has lost account owners of unclaimed bank, mutual fund, or brokerage accounts, turn to Dunbar to locate them.