• 13 January, 2021
    A Stealth Tax on the Vulnerable
    The UK Government has announced that dormant assets across the insurance and pensions, investment, wealth management, and securities sectors are to be made available to support the UK as it recovers from the coronavirus pandemic. See Link: https://www.gov.uk/government/news/uk-government-announces-major-boost-to-coronavirus-recovery-through-expansion-of-dormant-assets-scheme The caveat is that your customers can reclaim anytime in the future from the pool remaining from all customers assets handed over not distributed to charity (if they know about it). See article for more...
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  • 02 November, 2020
    Why Bad Data is Costing Your Organisation
    Bad data fields in your customer records can lead to a plethora of issues. Bad data isn't just limited to incorrect or historic addresses. It can also be erroneous dates of birth, or incorrect names. Holding this information for your customers can mean that customers are missed by automated screening processes. What does this mean for your organisation? And, more importantly, how can you resolve this?
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  • 17 September, 2020
    Governance 360 - A Link Group Podcast
    In late 2019, our CEO, Paul Aggett, was asked to partake in the recording of a Podcast for Link Group's Governance 360 series. The podcasts talks broadly about lost assets, the benefits of a concerted effort to reduce dormant assets accross the finacial services industry, and about Vestigium Services as a business too.
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  • 17 September, 2020
    Expansion of the Dormant Assets Scheme
    At Vestigium, we welcomed HM Treasury's (HMT) and Department for Digital, Culture, Media & Sports (DDCMS) consultation on expanding the dormant asset scheme. As the document states in the forward: "Dormant assets remain the rightful property of their owners, and the scheme guarantees their right to reclaim the amount owed to them at any time. This underpins the entire scheme, and is crucial to ensuring that everyone—from consumers to firms—trusts and supports it."
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  • 18 September, 2020
    £20bn of Lost Pensions
    The scale of the UK’s lost pensions mountain is exposed by latest research carried out by the Pensions Policy Institute on behalf of the ABI. In the largest study yet on the subject, the Pensions Policy Institute (PPI) surveyed firms representing about 50% of the private defined contribution pensions market. From this PPI found 800,000 lost pensions worth an estimated £9.7 billion. It estimates that, if scaled up to the whole market, there are collectively around 1.6 million pots worth £19.4 billion unclaimed – the equivalent of nearly £13,000 per pot.
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  • 16 September, 2020
    The Commission on Domrant Assets Report 2017
    Dormant assets should not exist, but they do. Individuals should never lose track of their assets, but they do. Companies should not have out-of-date contact details for their customers, but they do. As a result, there is a significant amount of money in our economy which is unclaimed or lost. Public interest dictates that money ordinarily due to customers should not unduly benefit companies. We should all do whatever we can to minimise dormancy occurring in the first place, but if it does occur, the owners should be found and, if that is not possible, society should benefit. The Government Commissioned a Report into Dormant Assets in 2017, to investigate what can be done.
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  • 03 September, 2020
    Vestigium Services in the Parliamentary Review
    Vestigium Services were recently featured in the Parliamentary Review. Follow this link for the transcript and more.
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  • 02 September, 2020
    Library Posts Coming soon!
    Coming soon!
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