$50,000,000 in Asset Recovery and Team Expansion on the Horizon for Q2 2022
LAS VEGAS, April 19, 2022 /PRNewswire/ — Dunbar, a financial services company that helps businesses, financial institutions, and individuals with unclaimed property needs, announced today that it has reached the milestone of $50,000,000 in asset recovery.
Unclaimed property, or accounts within financial institutions or companies with no activity or owner contact after a year or more, fall under state control due to a common law doctrine known as escheat. It is estimated that 1 in 10 people in the United States has missing money.
The key to Dunbar’s $50,000,000 success, as of Q2 2022, has to do with the company’s extensive experience with unclaimed property, resources, and communication strategies.
"Restoring lines of communication with inactive account owners is an art we have spent decades perfecting. Our senior leadership team has more than 60 years of combined experience in the industry, we connect with a network of specialists, and we’re the creators behind some of the unclaimed property industry best practices," said Seth Schorr, Chief Executive Officer & Founder of Dunbar.
The company’s team includes former state administrators, allowing Dunbar to provide clients with the highest level of service and understanding of state compliance regulations. By prioritizing "people over paper" and adhering to a process that includes utilizing up-to-date technology, the company’s staff has provided solutions for thousands of individual account owners and over 50 institutional clients.
With achievement comes expansion, and Dunbar’s team is projected to grow by 30% in the coming year. The company welcomed six new employees in 2021 and plans to add another eight in 2022.
"We’re now in our fifth year of operation and it’s incredible to see how we’ve grown in that time. Our success is a direct result of the efforts of experts in their field helping clients to receive what is rightfully theirs," said B.J. Hanson, Executive Director of Dunbar.
Dunbar plans to continue its upward trajectory in the coming years. The company is beginning to coordinate efforts with businesses active in the fields of commerce and online retailing, supermarkets and specialty retail, sustainability management and technology, manufactured materials, information technology, and the human services ecosystem.
Founded in 2016 in Las Vegas, Nevada, Dunbar is a results-driven unclaimed property firm specializing in the location and re-engagement of lost and dormant account owners while providing custom solutions for individual clients and businesses. To learn more about the company and its services, visit dunbargroup.com.