Professional Services
From meticulous advisory to strategic audit defense, compliance, and corporate asset recovery, Advisely services cover every aspect, safeguarding your business with expertise and precision in unclaimed property.
General Consulting
Planning is a vital aspect of every organization. Our team provides a variety of techniques and education for companies that are ready to address the management of internal unclaimed property procedures. Whether you are interested in implementing proactive measures or need to rectify compliance issues, Advisely provides a unique and cost-effective action plan catered to each client.
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Some of our General Consulting services include:
Company Analysis
Guidance & Education
Compliance Overhaul
Policies & Procedures
Mergers & Acquisitions
Annual Reporting
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Audit/VDA Defense
If your company is engaged in a Voluntary Disclosure Agreement (VDA) or audit program, there are several factors to consider that will have an impact on the timeline, cost, and resources associated with the process. Companies that navigate these processes without the assistance of professionals often experience roadblocks that leave them vulnerable to interest, penalties, and costly assessments. Advisely alleviates the burden of company personnel so they can focus their efforts on normal business responsibilities.
Verified Report/Compliance Review
State governments have increased activity in self-audit, verified report, and compliance review programs in recent years to drive holder compliance. Although these programs differ from the traditional audit or VDA process, they require significant resources to respond to document requests. The programs are often facilitated by third-party auditors who require holders to adhere to strict timelines. If requirements are not followed by the holder, these engagements are shifted to a full unclaimed property audit. To help mitigate the risk of an audit notice, Advisely works directly with holders to address the primary focus of the requests, limiting the holders' resources devoted to the project.
Owner Reunification
Developing and improving an owner reunification program is vital to reducing property eligible for state reporting. Advisely partners with clients by leveraging technology and data to seamlessly connect owners and their assets. We save time and expense by creating procedures to re-establish contact with owners before property reaches dormancy. During the annual reporting process, states require holders to follow strict due diligence efforts prior to property reporting. Creating, tracking, and organizing these communications can become overwhelming. Advisely uses decades of experience to maintain an efficient workflow in reuniting funds.
Corporate Asset Recovery
Corporate asset recovery is equally as important as maintaining sufficient state compliance standards. States hold billions of unclaimed funds owed from one company to another. The corporate structure for many companies has changed significantly over the years, which leaves organizations vulnerable to lost assets. Advisely has a dedicated team focused on locating abandoned property owed to our clients. The process of researching, locating, and reclaiming the property often varies by state. Through our technology and experience, we organize the information needed to return the property back to your business.