June 10th, 2016


Assets Recovered is a primary research partner and playing a key role in an industry-wide project being undertaken to scope and find a solution for dormant and unclaimed assets in the Investment Management sector. The project is also supported by leading professional firms and industry bodies, including EY, international law firm Eversheds, The Investment Association and the Wealth Management Association. The regulator, the Financial Conduct Authority, also knows about and supports the research. Jane Moore, Manager of CASS Policy at the FCA stated:

"The FCA welcomes initiatives aimed at increasing industry's understanding of the scope of policy, legal and operational issues in unclaimed and dormant assets and of the scale of the problem. We also welcome inititatives aimed at resolving and returning unclaimed or dormant assets to their owners and preventing further assets from becoming unclaimed or dormant." 


Further details can be found on the research project page of the firm leading the research, KBMstrategy.


About Us


AR provides an efficient, cost effective solution to enable companies to re-establish contact with “gone away” customers or shareholders, clear current Unclaimed Assets and prevent future build up.

What are Unclaimed Assets?

Unclaimed assets are any personal or company owned assets held by a company or the government, which have been “forgotten” or are simply “unknown” to the rightful owners. These include insurance entitlements, pensions, tax incentivised savings, investment accounts, shares, dividends, proceeds from corporate actions, bank or building society accounts and many other financial assets.

Assets generally become unclaimed because:

  • People do not keep financial institutions informed of changes to their circumstance, such as when moving home.
  • They forget the asset, such as an occupational pension scheme, after they move jobs.
  • People are simply unaware of the asset, such as the proceeds from a lapsed endowment savings plan after the related mortgage has been paid off after a house sale.
  • An individual died and the Executors do not identify all the assets owned.


Assets Recovered estimates there are over £30 billion of unclaimed assets held by companies and the Government in the UK.

Does this affect you?

Every Bank, Building Society, Insurer, Investment, Company or Fund Manager in operation for 10 years or more will almost certainly be holding significant unclaimed assets. The amount held is usually related to the age and size of the business concerned, and whether this issue has ever been properly addressed.

Every year in the UK, 1% of the population dies and 4% of households move. Based on our experience, this can easily result in up to 5% of customer records being inaccurate after 20 years.

Any company that has operated a pension scheme, a SAYE share scheme or is publicly listed will almost certainly be holding (directly or indirectly) larger amounts of unclaimed assets than they appreciate.


Does your company know exactly what unclaimed assets it is holding?

Why take action

In countries such as the US, legislation requires any ‘dormant’ assets to be transferred (escheated) to the relevant state after a specified period of ‘dormancy’ and any failure to comply results in significant fines for the Company holding those assets.

In the UK there is currently no such legislation; however, there is increasing regulatory pressure and ethical standards which are key reasons why companies should deal with any unclaimed assets they may be holding in addition to the following practical benefits:


Establish ‘Know your Customer’ for existing customers and reduce the risk of fraud and identity theft.

Comply with the 4th Principle of the Data Protection Act 1998, which provides that "Data must be accurate and where necessary kept up to date".

Cost saving

Eliminate unnecessary administration costs

Brand enhancement

Provide new sales opportunities with ‘lost’ customers or their Estates.

Visibly demonstrate a real commitment to ‘treating customers fairly’ and enhance corporate reputation.

Boost staff confidence by ensuring they will receive everything they are entitled to even after they are no longer employees.

Improve the accuracy of company records and statutory reporting.

How can we help?

Applying our straightforward methodology that requires minimal involvement for our clients, we can quickly and securely work to:

  •  Identify the asset owners with whom you have lost contact and quantify the level of unclaimed assets.
  •  Design and manage a programme that traces those asset owners or their Executors and enables you to reconnect with them.
  •  Create and establish processes that ensure future ‘gone aways’ are identified and managed efficiently and cost effectively.