Improving reporting and compliance for a mutual fund
The problem:
A mutual fund run by a major investment-banking firm needed more frequent and detailed reporting on lost and dormant accounts.
The process:
EquiSearch was able to improve location rates through an intensive, manual Deep Search process. Trained researchers experienced in unclaimed property, will, probate and kinship law conducted the search. EquiSearch Recovery Services professionals completed the process by offering turnkey assistance to each shareholder.
The solution:
EquiSearch was able to reduce the issuer’s escheatable assets by addressing accounts not subject to SEC requirements. By “doing the right thing” for their shareholders, the issuer enhanced brand perceptions and reduced the possibility of future issues.
Cost to client
None. EquiSearch received fees solely from eligible heirs to lost accounts, only upon recovery.
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