Equiniti

triumphstag_2

Hi I am sorry to be asking a simarlar question to others of last year. I have received a letter saying my late Mother had investments with them, however I did feel I have sorted my late Mothers estate, and absolutely do not know of this investment. Probate has been granted Solicitors have been involved, I thought Solicitors were to provide a search for possible missing accounts?. Our Solicitor charges have been extortionate therefore I felt I had to investigate this one for myself. Could you advise me as to is this a genuine Company or my fears of a scam. I would like some help please in this matter Kind Regards Olwen (Triumphstag)

Reaper

See this thread. The same question was asked yesterday:
https://forums.moneysavingexpert.com/discussion/4067883

oneye14

And this thread:
https://forums.moneysavingexpert.com/discussion/3028798

It appears their way of looking for business ....

Although in my thread:
https://forums.moneysavingexpert.com/discussion/4028867
there are ongoung criminal investigations

pqrdef

Are they sure it's your mother who had the shares, or are they just writing to everybody they can find with the same name?

Vortigern

This is from Equiniti's website. (NB I do not work for Equiniti in any capacity)

Equiniti Financial Services Limited (EFSL) Mailings

As a firm authorised and regulated by the FSA (reference 468631), we have a regulatory duty to safeguard assets held on behalf of shareholders, and to undertake measures to try and make contact with these shareholders should they lose contact with us.

As part of these measures, we are currently running a series of targeted mailings seeking to re-establish contact with these shareholders and help reunite them with their entitlement.

To reduce the risk of potential fraud, we are not able to disclose details about any entitlement until we have verified the identity of any respondent.

More details on Equiniti website HERE

pqrdef

Vortigern wrote: »

As part of these measures, we are currently running a series of targeted mailings seeking to re-establish contact with these shareholders and help reunite them with their entitlement.

To reduce the risk of potential fraud, we are not able to disclose details about any entitlement until we have verified the identity of any respondent.

This does sound very much like they're trawling the electoral roll looking for people they've lost. They won't say what they know about the shareholder (or even what company's shares are involved) until they've decided you're the right person.

oneye14

If you check the link I gave above:
http://forums.moneysavingexpert.com/....php?t=3028798
there is a discussion regarding regulation

Equiniti Financial Services Limited (EFSL)
is regulated by the FSA

Equiniti Limited
the sharholder company
is not regulated by the FSA

The extract above IMO is
their way of looking for business ....

oneye14

This does sound very much like they're trawling the electoral roll looking for people they've lost. They won't say what they know about the shareholder (or even what company's shares are involved) until they've decided you're the right person.

I didn't like to suggest it but yes, just like double glazing companies used to do....

xylophone

I once had to try to reunite people with returned warrants, sometimes for very large amounts of money - the secure filing held surprising numbers of these, sometimes representing two or three years of payments.
I can recall telephone calls to banks, letters to last known addresses, checking to see whether details had been recorded on the data base in slightly different format, etc, etc.

Odd as it might seem to those who are efficient and methodical with their financial affairs, there are people who aren't.

Share certificates, records of investments, policy documents etc are lost or mislaid or turn up at somebody else's house "because Auntie asked me to look after these and I forgot to remind her when she moved...." A thousand permutations?

There is no harm in checking the facts with Equiniti?

Stan_Here

I saw some comments on Equiniti yesterday and looked at it only because I recognised the name.

I do not work for Equiniti, but did formerly work for BT, and over the years they used to give us about 40 or so shares a year depending on company performance. In order to keep all shares together so that admin costs are low, and to offer a low cost selling service, BT seems to have this share scheme managed by Equiniti Financial Services Ltd. They hold my shares in trust (Equiniti Corporate Nominees Ltd) and send one payment for all share dividends, instead of having, for instance 10 dividend payments against 10 x 30 shares.

I would hope that as they are managing such a large scheme for a company like BT, that they are entirely reliable.

I cant comment on whether they are touting for business, as I wouldnt have a clue if they were even legally allowed to do this, but I know that they have to do something about dividend notices that are returned to them and especially if bank accounts have been changed and the dividends have bounced back to them. They have a duty to attempt to deliver the dividends and therefore will take steps to try and trace people.

Vortigern

xylophone wrote: »

There is no harm in checking the facts with Equiniti?

Surely that should be a statement, not a question.

Stan_Here wrote: »

I do not work for Equiniti, but did formerly work for BT...

Me too.;)