Four reasons why people lose track of their shares
There is an estimated $1.5 billion of lost assets in Australia. Could some of it be yours? Investafind explores the common reasons assets become lost.
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When a company changes hands, it impacts all shareholders. The companies involved are required to notify all shareholders by mail of any changes that impact their shares, but very often these notifications are not actioned or received.
A good example of this was when NRMA Insurance Limited was acquired by Insurance Australia Group (IAG).
As a result of the company acquisition, all NRMA shareholders had their existing shares converted to IAG shares. On average, Investafind has been able to recover over $4,000 of lost shares per client with lost holdings.
Employee shares schemes are set up by companies as an additional benefit for their employees. The shares can be issued as a bonus or offered at a discounted price.
It is common for shares provided by an employee share scheme to be forgotten by their owner. Sometimes this is due to the owner losing track of their shares over time as they jump between jobs and places of residence.
Other times they did not understand the scheme and the value of the shares.
Always take the time to do your research when choosing an Accountant or Financial Adviser to manage your finances.
Poor management and business practices have led to many people losing important paperwork or using outdated personal information, which can cause headaches when trying to locate and sell their shares.
It is also not unusual for firms to close or be bought out by another firm without the client being notified.
Executors of a will are people who carry out the final wishes of the deceased. If they are not aware of the assets and neither are the family or friends — they cannot pass them on to the beneficiaries.
Financial firms attempt to locate the executor; however, this is not always possible when the deceased has not provided them with up-to-date personal information.
Lost shares and lost investments are more common than you think. Investafind specialises in tracking lost shares and investments by collaborating with a trusted pool of financial brokers, accountants, and solicitors to achieve the best results.
Investafind can help you reactivate your existing holding or sell your shares with a few simple steps.
If you fall into any of these categories, you might have lost assets. Investafind can help you regain what is rightfully yours.
Call Investafind today on (07) 5619 5976 for a confidential chat.
