What are lost assets?
An asset is a broad term and can mean anything from funds in a bank account, to stocks and shares, pensions and National Savings & Investments. A lost asset exists when the administrator of the records of the asset has reason to believe it holds out of date records for the asset owner.
Assets are most often lost or forgotten when people move home or change job and lose documents or when an account is set up by one person for someone else. Assets can also be lost when someone dies and there is no record of the investment held in the possessions of the deceased.
These assets are not subject to challenge over ownership but require action to ensure the administrator of the records has up to date details. ProSearch provides a simple service to enable this to be done.
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