The Investment Association has launched a platform designed to help people find their missing investments by using technology to connect consumers and companies through a one-stop shop for finding and recovering lost assets.
The tool aims to re-unite individuals with an estimated £781m ($960m, €913m) in lost investments.
The portal is a free-to-use tool with a simple one-off registration process. Once the tool has located a lost investment, misplaced pension or dormant savings account, it will connect the consumer with the provider to discuss their options to reclaim their funds.
If no match is found in the first instance, the user’s information is stored safely on the system, and they will be notified if the lost money is registered by one of the association’s members or another financial institution.
The trade body is now urging people to register to the platform if they suspect they may have lost an investment over the years.
Quick process
Chris Cummings, chief executive at the Investment Association, said: “We are delighted to be launching the IA Unclaimed Assets Portal to help people locate their missing funds and to support our members in ensuring any forgotten assets are re-united with their rightful owners.
“This new portal will make the process much more straightforward and quicker for customers.
“While online platforms have made it easier to update personal information in recent years, we particularly want to encourage people to check in with their parents and grandparents who may have invested money years ago and overlooked updating their details when moving job or changing address.
“A quick check today can make sure they are reunited with long forgotten investments.”
