Prevent unnecessary abandonment of accounts.

Each year financial institutions are required by law to deliver abandoned accounts to the state government.
The assets in these accounts are valued in the multi-millions of dollars.  They include all types of bank accounts including: savings accounts, checking accounts, certificates of deposit, IRAs and other retirement accounts.  At Equity Find, we help to
prevent this from occurring by providing up-to-date
client information.  This information includes validation
of the client name, new addresses, and verification of
the new addresses.

Ensure compliance with state laws and regulations.

Bank auditors and state regulators are continually increasing their efforts to ensure that the holders of abandoned accounts are in compliance with state laws and  regulations.  The result is increased on-site audits, increased fines and penalties, and increased work.

 At Equity Find, we can play a major role in helping you achieve TOTAL compliance. With 50 states plus U. S. Territories, the District of Columbia, and international rules, the process is cumbersome and complex.  We
are able to provide you with the tools and assistance to ensure that you meet all of the specific timeframes in each jurisdiction and to help you successfully navigate the maze of paper work and regulatory reporting. Our 24 years of experience and expertise does make a difference.

Eliminate potential fines and violations.

Abandoned Accounts that have not been turned over to the state within the prescribed timeframes can expose the holder to fines and violations. While these vary according to each state the result is the same, a
negative impact on your bottom-line and the return on investment of your shareholders and customers. 
Equally important is the impact it can have on the financial institution’s public image and reputation.

Enhance Processing Efficiencies

The Equity Find Team draws on over 80 years of management experience to help you enhance processing efficiencies.  We draw on that expertise to review current workflow processes, technology and systems support, and people resources. After an in-depth analysis, we help to identify opportunities for streamlining the process and shortening timeframes. The result is a service operation that manages abandoned accounts in a timely and cost effective manner.

Increase Retention of Assets

For every new, valid address that we are able to find puts you closer to ensuring that the client and the account assets remain within your financial institution.  The more assets you are able to retain the greater your profitability.

Increase Profitability

In today’s competitive marketplace, increased profitability is a key to success.  By identifying the current, correct addresses for the abandoned account owners, and retaining those assets within your organization, you will increase profitability.   

Deceased Account Owners
 

After determining that an account owner is deceased, we work to identify the rightful heirs. This is done in partnership with our team of certified genealogists.
 Utilizing a variety of research methods, we identify over 95% of heirs.  Upon identifying and locating the rightful heirs, we unite the assets with the heirs for an agreed upon fee.  There is never an up-front fee to an heir.  A fee is paid only when the assets are united with the rightful heirs. Equity Find  assumes all legal costs, research, and administrative fees.