Top 10 Unclaimed Property Specialists, Consultants & Consulting Firms
"Finders keepers, losers weepers," an old adage goes, but when it comes to unclaimed property, this couldn't be further from the truth.
Unclaimed property refers to assets like forgotten bank accounts, uncashed dividends, or unclaimed insurance proceeds. These funds, left unclaimed, can accumulate in state treasuries, waiting for rightful owners to claim them.
The Value of Specialized Assistance
Unclaimed property specialists and consulting firms play a pivotal role in bridging the gap between these dormant assets and their rightful owners. Firstly, these specialists possess the expertise and resources to navigate through complex legal and bureaucratic processes. This is crucial, as the rules and regulations governing unclaimed property vary significantly across different jurisdictions, and understanding these nuances is key to successful recovery.
Unclaimed property experts offer a crucial service for both individuals and corporations. For individuals, they provide a means to reclaim assets they might not even be aware of. For corporations, they assist in compliance with unclaimed property laws, helping to avoid legal penalties and maintain corporate reputation.
TL;DR — Top 10 Unclaimed Property Specialists, Consultants & Consulting Firms
Alpha Apex Group: Alpha Apex Group navigates the complexities of unclaimed property management, providing expert guidance, ensuring compliance, and offering strategic solutions to transform oversights into operational improvements and enhanced customer engagement.
Crowe Unclaimed Property Consulting: Crowe provides specialized unclaimed property consulting, emphasizing compliance and risk management in over 50 jurisdictions with services like asset recovery and risk assessments.
MarketSphere Unclaimed Property Specialists: MarketSphere specializes in unclaimed property compliance and management, offering services like escheat audit, and asset recovery, and has saved clients over $25 million in penalties.
Sovos Unclaimed Property Consulting: Sovos offers tailored solutions for unclaimed property compliance and operational efficiency, with services including risk analysis, audit support, and comprehensive policy development.
Baker Tilly Unclaimed Property Consulting: Baker Tilly provides unclaimed property consulting, focusing on compliance, audit defense, and policy development, with expertise in industry-specific strategies.
UPCR LLC: UPCR specializes in unclaimed property compliance for various sectors, offering services like compliance outsourcing and innovative software tools like UPNavigator™ and InSmart™.
Alpha Apex Group, Leaders in Unclaimed Property Consulting.
Alpha Apex Group distinguishes itself as a leading consultancy in the niche field of unclaimed property management, offering specialized services to help organizations navigate the complexities of unclaimed property laws and regulations. Their expertise assists companies in identifying, reporting, and remitting unclaimed assets in compliance with state and federal regulations, thereby mitigating legal risks and financial liabilities. Alpha Apex Group's approach not only ensures regulatory compliance but also helps businesses establish best practices for managing unclaimed property, turning potential financial oversights into opportunities for operational improvement and customer engagement.
Key Services
Unclaimed property compliance audits and risk assessments
Voluntary disclosure agreements and negotiation with regulatory bodies
Policy development and process improvement for unclaimed property management
Escheatment process optimization and reporting
Holder advocacy and dispute resolution
Unclaimed property due diligence and asset recovery
Why work with Alpha Apex Group
Working with Alpha Apex Group for unclaimed property management provides businesses with the assurance of expert guidance through the labyrinth of unclaimed property regulations. Their customized approach addresses the unique challenges and opportunities of each client, ensuring not just compliance but also enhanced operational efficiency and reputation management. Alpha Apex Group's commitment to delivering strategic and actionable solutions in unclaimed property management makes them a vital ally for companies looking to responsibly manage their unclaimed assets and protect their bottom line.
Crowe is a distinguished provider of unclaimed property consulting services, offering comprehensive solutions for organizations across various industries. Their expertise covers a wide range of abandoned and unclaimed property issues, ensuring compliance and risk management for clients in over 50 jurisdictions. Crowe's team of specialists is well-versed in laws and regulations specific to industries like healthcare, hospitality, financial services, insurance, retail, technology, media, telecommunications, manufacturing, energy, and oil and gas.
Key Services
Unclaimed Property Compliance
Pre-Audit Unclaimed Property Preparation
Pre-Escheat Asset Reunification
Search and Location Database and Services
Unclaimed Property Asset Recovery
Unclaimed Property Defense
Unclaimed Property Risk Assessments and Mitigation
Voluntary Disclosure Agreement Management
Why Work with Crowe
Crowe stands out for their ability to handle unclaimed property challenges comprehensively. They provide tailored solutions to minimize risks and convert liabilities into assets, backed by their deep industry knowledge and technological proficiency in compliance processes.
MarketSphere Unclaimed Property Specialists, with over 20 years of industry experience, stand out as the nation's leading experts in unclaimed property compliance and management. With offices across the U.S., MarketSphere serves both public and private, enterprise and mid-size businesses, ensuring adherence to state requirements and managing voluntary disclosure agreements (VDAs) and audits.
MarketSphere prides itself on its expert team, comprising professionals with over a century of combined audit, corporate, and government experience, including those with backgrounds in the Big Four and as former auditors. This depth of expertise has saved their clients over 25 million dollars in penalties and interest.
Key Services
Escheat Audit & Compliance
Annual Compliance
Owner Location Services
Asset Recovery
Customized Unclaimed Property Solutions
Why Work with MarketSphere
MarketSphere Unclaimed Property Specialists are renowned for their meticulous record-keeping, highly secure transactions, and proactive future planning, especially for top-tier firms that demand such rigor.
Sovos Unclaimed Property Consulting boasts years of experience across various industries. They assist in developing and implementing effective policies and procedures, streamlining the audit process, and managing Voluntary Disclosure Agreement (VDA) responses. They offer unique expertise from professionals with direct experience in the field, including former state auditors and certified public accountants.
Key Services
Risk Analysis and Policy Development
Audit Assistance and Support
Compliance and Process Assessment
Voluntary Disclosure Agreements
Comprehensive Policies and Procedures Development
On-Demand Consulting Subscription for Various Needs
Why Work with Sovos
Sovos stands out for their deep domain expertise and commitment to providing customized, efficient solutions for unclaimed property compliance. Their approach not only addresses compliance needs but also enhances operational efficiency.
Baker Tilly’s team consists of professionals from diverse backgrounds, including industry and government, with national recognition in unclaimed property advocacy. They focus on identifying risks and managing processes to minimize audit risks and compliance burdens, offering long-term solutions.
Key Services
Annual Compliance and Outsourcing
Audit Defense
Negotiation of Voluntary Disclosure Agreements
Exposure Quantification and Analysis
General Consulting
Gift Card Consulting
Policies and Procedures Development
Why Work with Baker Tilly
Baker Tilly's approach combines technical expertise and industry-specific experience to provide comprehensive unclaimed property solutions. Their focus on innovative strategies and best practices makes them adept at navigating the complexities of unclaimed property regulations across multiple industries.
UPCR LLC (Unclaimed Property Consulting & Reporting) caters to a variety of sectors, including financial services, insurance, retail, and government agencies. UPCR's services are designed to streamline unclaimed property compliance processes, offering solutions like compliance outsourcing, DMF (Death Master File) matching services, and innovative software tools like UPNavigator™ and InSmart™. UPNavigator™ simplifies unclaimed property reporting through a web-based application, while InSmart™ aids in managing and tracking DMF matching research results from various sources.
Key Services
Unclaimed Property Compliance
Compliance Outsourcing
DMF Matching Service
UPNavigator™ Compliance Application
InSmart™ DMF Match Tracking Application
Why Work with UPCR LLC
UPCR LLC brings a comprehensive approach to unclaimed property compliance, offering both expert consulting services and advanced software solutions. Their focus on hassle-free, cost-effective methods ensures that businesses can maintain compliance efficiently while focusing on their core operations.
7. Georgeson Unclaimed Property Consulting
Georgeson’s team, composed of dedicated unclaimed property professionals, offers a full suite of consulting services tailored to various business needs. Their expertise encompasses a range of services, from conducting high-level and comprehensive risk assessments to identify and address compliance gaps, to remediation strategies that ensure accurate reporting of unclaimed property.
Key Services
High-Level Risk Assessment: Suitable for companies with a moderate to strong reporting history, focusing on ensuring the health of existing compliance programs
Comprehensive Risk Assessment: Designed for companies with gaps in unclaimed property reporting, aiming to identify potential unreported liabilities
Remediation: Involves internal research and outreach to accurately report only actual unclaimed property
Compliance and Voluntary Disclosure Agreements (VDAs): Preparation of necessary reporting and paperwork for compliance, with a focus on avoiding penalties and interest
Audit Assistance: Support in navigating the audit process, which varies across industries and auditors
Policies and Procedures: Development and implementation of comprehensive policies and detailed procedures for future compliance
Why Work with Georgeson
Georgeson's approach is characterized by a deep understanding of the complexities of unclaimed property regulations, including the evolving state requirements and risks of audits, fines, and penalties. They emphasize the importance of keeping up with confidence in the face of such challenges, positioning themselves as a knowledgeable partner in all aspects of unclaimed property compliance, from due diligence to reporting.
8. Ryan LLC Unclaimed Property Consulting
Ryan LLC is known for having the largest integrated abandoned and unclaimed property (AUP) practice in the United States. Ryan LLC provides solutions to efficiently identify, capture, and report unclaimed property, thereby protecting their clients' profitability and cash flow.
Key Services
Audit Defense
Voluntary Disclosure Agreements
Compliance Outsourcing
Abandoned and Unclaimed Property Software (Tracker PRO)
Risk Assessments
Asset Recovery Services
Asset Reunification Services
Policy and Procedure Services
Process and IT Review Services
Transactional Gift-Card Planning Services
Special Claims and Recovery Services
Why Work with Ryan LLC
Ryan LLC's expertise in abandoned and unclaimed property compliance is backed by a team of experts, including former state and third-party auditors, who understand the intricacies of this field. They offer end-to-end solutions that address all aspects of unclaimed property, from risk assessment to compliance and recovery.
9. Deloitte's Unclaimed Property Services
Deloitte's Unclaimed Property Services addresses a wide range of unclaimed property types such as uncashed checks, direct deposit rejections, aged customer deposits, credit balances, lost shareholder property, and more. Industry-specific properties like gift cards, bank and investment accounts, royalty payments, rebates, etc., are also covered.
Key Services
Diagnostic analysis and exposure quantification
Assistance with Voluntary Disclosure Agreements
Support in controversy and audit defense
Reviews of policies, procedures, and processes
Outsourcing and co-sourcing for compliance
Mergers and acquisitions review
Analysis and health checks for gift cards
Why Work with Deloitte
Deloitte provides valuable insights into unclaimed property risks, misconceptions, and the latest legislative updates and audit trends. This is crucial in an environment where unclaimed property compliance is becoming increasingly important for companies across various industries.
10. Watters Unclaimed Property Consulting
Watters Unclaimed Property Consulting specializes in unclaimed property services, focusing on increasing productivity and lowering costs for businesses by outsourcing their unclaimed property activities. The firm, led by Mark Watters, is known for its unique approach, blending vision and expertise in unclaimed property practices.
Key Services
Annual Compliance: Managing all aspects of abandoned or unclaimed property, including identification, retrieval, owner settlement, and reporting
Unclaimed Property Audit Management: Providing support during audits to minimize financial impacts
Compliance and Voluntary Disclosure (VDA): Assisting with initial compliance, voluntary disclosures, and reducing penalties and fees
Ancillary Services: Offering a range of services for effective compliance, such as technical research, staff training, and compliance reviews
Federal and State Excise Tax Compliance: Experienced in various tax requirements and authorized by the IRS for tax settlement
Why Work with Watters UP
Watters UP's deep understanding of reporting and remittance requirements, coupled with its modular service offerings, allows clients to tailor services to their specific needs, controlling expenses and overseeing operations effectively.
Key Factors to Consider When Choosing an Unclaimed Property Specialist
Here are some of the key factors to keep in mind when searching for an unclaimed property expert.
Look for specialists with a proven track record in handling unclaimed property. Their experience in various industries can be a significant advantage.
Ensure they are well-versed in the latest compliance regulations and laws related to unclaimed property across different states
Check if they use advanced tools and technology for tracking and managing unclaimed property efficiently
Client feedback can provide insights into the reliability and quality of service
Opt for firms that offer services tailored to your specific needs and business size
Consider if they provide support during audits and have experience in dealing with complex unclaimed property issues
Understand their fee structure and ensure it aligns with your budget and the value they provide
What Unclaimed Property Specialist Will You Choose?
The right unclaimed property specialist can not only help you comply with legal requirements but also turn potential liabilities into opportunities. As you consider your options, reflect on the factors listed above and weigh them against your unique business needs and goals. The ideal partnership is one where expertise, technology, and personalized service come together to offer you a seamless and efficient unclaimed property management experience.
