An asset can be separated from its owner for many reasons, these can include:
Death, Change of address, investments made and failing to tell any family or friends.
Whilst companies make efforts to find customers when funds are due to be paid out these efforts are entirely down to the company concerned. As a result, many assets are forgotten, and consumers lose touch with their provider.
The total value of unclaimed financial assets in the UK has not been accurately defined, but it is thought to be approximately £15-20bn.
The Unclaimed Assets Register (UAR) reunites consumers or beneficiaries with their lost assets.