CashNews.co
Gretel, the UK’s platform for reconnecting consumers with lost financial assets, has announced partnerships with Jupiter Asset Management and Janus Henderson Investors.
With an estimated £89 billion in lost financial products across the UK, including £2.8 billion tied to lost investments, the aim is to help millions of UK consumers find unclaimed and dormant investments, including ISAs, Investment Trusts, and OEICs.
The average unclaimed investment account is worth £2,800, underscoring the significant financial benefits for consumers who rediscover their forgotten funds.
The partnership comes at a critical time, with the UK’s financial services sector preparing for new Consumer Duty regulations and the introduction of the Dormant Assets Scheme in 2025. These regulatory shifts will place increased emphasis on consumer protection and accountability, ensuring that individuals can access and reclaim their dormant investments with greater ease.
Duncan Stevens, CEO of Gretel, expressed his excitement about the new partnerships:
“The scale of lost and dormant assets in the UK is staggering, and it’s our mission to ensure these funds find their way back to their rightful owners. Our partnership with Jupiter and Janus Henderson marks a significant milestone in leading the industry towards reconnecting consumers with their lost wealth.”
Both Jupiter and Janus Henderson, two of the UK’s most respected asset management firms, see this partnership as part of their commitment to client care and transparency. Jasveer Singh, General Counsel at Jupiter Asset Management, remarked,
“As part of our commitment to our clients, we’re pleased to partner with Gretel to ensure unclaimed investments are reunited with their rightful owners. This initiative not only benefits individuals but also reinforces trust in our industry.”
Alex Wheeler, Head of Transfer Agency EMEA at Janus Henderson Investors, added:
“By partnering with Gretel, we’re taking proactive steps to help customers recover forgotten assets and ensure their investments are working for them.”
Gretel’s research highlights that over a quarter of UK adults believe they may have unclaimed investments or stocks and shares that they are unaware of. The trend extends beyond investments to other financial products, such as pensions, savings, and Child Trust Funds.
With increasing public awareness of the environmental and social responsibilities facing the financial sector, the focus on dormant assets will likely grow, with the potential to unlock billions for UK consumers.
For UK investors, the Gretel platform offers a simple, secure, and free method to track down unclaimed financial assets. The platform has won accolades for its innovative approach, making it a vital tool for investors looking to consolidate and manage their wealth.
As part of this industry shift, investors can expect more financial institutions to follow the lead set by Jupiter and Janus Henderson in making their lost accounts easier to recover. With Consumer Duty regulations looming, the pressure is on asset managers to prioritise consumer outcomes.
Gretel’s research has found that over a quarter (26%) of UK adults think they may have investments or stocks and shares they are unaware of or haven’t considered, and similar trends are observed across pensions, bank accounts, savings, life insurance, and Child Trust Funds.