The Problem:

Each year millions of dollars are turned over to the various States as unclaimed property, often unnecessarily.  The States are holding billions of dollars of unclaimed property in trust for people and businesses.  More often than not companies turn over property that should never be turned over, and secondly, companies are unaware that property belonging to them is available for collection from the states.  The states are all too happy to keep this property on their books, as it is an interest free loan to them.  And if companies do not collect this property, the state will hold the property indefinitely.

The Solution:

The solution to this problem is quite simple.  Establish and follow a strong multi-tiered Unclaimed Property strategy.  RBO Financial Services does just this, helps companies to develop and implement well organized Unclaimed Property strategy.  There are four distinct steps involved in establishing this process, from collecting property from the States, to setting up ongoing due diligence to prevent remittance in error, to training of company staff to eventually running and taking ownership of the process.