BUSINESS SERVICES The Fletcher Recovery Group is a dynamic organization that offers solutions to the problems associated with lost account holders, dormant accounts and unclaimed property. Fraud Prevention and Detection In our asset recovery business we routinely discover acts of fraud committed against the owners, heirs and beneficiaries of dormant accounts. Financial Institutions have to bear the risk and the cost of dealing with falsified vital records, perjured affidavits, violations of succession statutes and internal theft. The Fletcher Recovery Group offers a solution to dealing with these problems that eliminates the risks and costs associated these crimes. Dormant Account Recovery Lost account holders result in the escheatment of assets on deposit. Escheating a living account holder’s money to the State generates a negativity that can be associated with your company. In addition to losing the funds in that account, it increases the likelihood of losing that customer. Additionally, you risk disclosing the identities of your account holders, and in some States you risk disclosing the size of their accounts. The reasons for keeping an account in an active status and maintaining the relationship with your customer are numerous, foremost of which is to build good will and increase your profit potential. Our location capabilities will dramatically reduce the number of lost account holders, thereby decreasing the amount of funds escheated. We will assure money that would have been destined to reside in the State’s coffers, stays on deposit with your institution. Missing Participants & Pension Plan Termination Missing and unresponsive pension plan participants can be costly and difficult to deal with, especially when terminating a plan. The Department of Labor has issued guidelines for dealing with this problem, but it doesn’t eliminate fiduciary obligations as defined under ERISA. The Fletcher Recovery Group can leverage our capabilities to locate missing participants and compel unresponsive members to execute documents efficiently. Our capacity for dealing with these issues will speed up the termination process and reduce plan costs. Missing Heir Investigation Heirs entitled to inherit money from a deceased relative can get disruptive very quickly if the estate proceedings are taking a long time. Often times the problem with pushing a deceased estate through probate is the inability to map out a family tree, limit next of kin or locate heirs. The Fletcher Recovery Group can pursue comprehensive genealogical investigations. We will document family members and locate heirs. Our work will make it possible for a decree to be issued that will result in a final distribution. |
