Some Do’s and Don’ts of consolidating your finances

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With up to £1.7bn of unclaimed assets out there waiting to be claimed, there are some careful decisions to make about if and how you should consolidate.

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

Published on 20 December 2023

It was correct at the time of publishing. Our views and any references to tax, investment and pension rules may have changed since then.

There’s up to £1.7bn worth of unclaimed investments, savings and pensions. If they stay unclaimed, money from the pot will go to good causes. Since 2011, £892mn in forgotten savings has gone to those in need.

Recent figures from account finding service, Gretel claim three in ten people could have money lost and languishing in an old account. If you’re one of those people, you might be wondering what you can do with your lost assets if you found them.

To help you keep track of everything, your first thought might be consolidating your lost accounts. While this can be sensible, some things might be better left where they are.

Here are some things to consider when you dig up your old assets.

This is not personalised advice. What to consolidate depends on your personal circumstances. If you’re unsure, seek