About Our Company
Edward Prior founded Prior and Associates in 1991 after a stint at the city desk at the Rocky Mountain News. He parlayed his skills as an investigative reporter specializing in finding missing persons and solving cold cases into finding heirs to Estates and people or business entities who had lost or unclaimed funds.
By the mid-1990s Prior established a wide range of connections within the Asset Recovery Industry, and cultivated excellent sources with reporting companies and holders of lost or suspended accounts that would serve him well in future claims payments.
His solid relationships with these entities (known as “holders”) including transfer agents, companies, courts and government agencies enabled him to serve his clients well. Especially appreciated by many clients is his ability to facilitate speedy payment of claim regardless of the nuance of a particular account.
Fast forward to 2016 with the industry ever constantly evolving and now becoming more of a service than a search. Clients expect asset recovery companies to manage their claim from A to Z, to ensure speedy payment of their claim. This includes advancing of all upfront costs associated with the claim no matter how large or how small the costs, including possible legal fees associated with an estate administration.
Prior and Associates maintains an extensive network or experienced attorneys in most major cities. He and his staff are consistently accessible to their clients on a daily basis. Emails and telephone messages are responded to promptly – usually the same day or at the latest within 24 hours.
Edward Prior is a hands-on manager who oversees the process from claim to payment of all of his clients.
“It’s what I like most about my job – I love getting to know my clients, who come from all walks of life. In this sense, my job is very rewarding. It’s the ultimate satisfaction to find money for somebody and often times change their life in a positive way.”
How had Prior built his company? He had formulated a successful business plan that incorporated parties to wills and trusts, estate succession, intestate succession, corporation succession, limited partnerships, bankruptcies and succession to all nature of business entities, living or dead.
The plan involved a lot of right brain thinking. “We always set out to answer a key question, or solve a key problem. Like who was so and so, and where is he now? How did such and such a company go out of business and what happened to the money? Who gets it in the end, and how can we prove ownership.”
The key to Prior’s success? “We treat every client the same, no matter how big or small the account. It’s all about being professional. We don’t just find the money for someone, we find the proof to account that the holder needs to pay their claim. We look at our clients as our lifeline to success. If they don’t think we’ve performed, how can we ask them to hold up their end of the bargain, which is paying our commission when they get their money?”
Our ideal case is an heir or a subject who has money out there for whatever reason, who everybody else has tried to find to no avail, and who really really needs the money. We know they’re there. And we know we can find them. And when we do it will be good for them and it will be good for us.”
The process usually starts with an audit by the reporting company that has identified an account that has been gathering dust for several years with no owner and no claim. After some thorough and some less than thorough attempts by the holder to locate the owner of the funds in question, the account comes across our desk. It is our job to find the owner and facilitate payment of claim.
The owner is located through Prior’s efforts whether he or she is an heir to an estate, a partner in a corporate succession or an individual who has a lost or suspended account that for whatever reason has slipped through the cracks. Prior calls subject or sends a letter and the client signs the “lost asset recovery agreement” which basically states a commission is due when the funds have been recovered, and only if payment is secured. Prior then gives the client full disclosure of the nature of the account.
Making the Claim
A claim is made by the client or by Prior on behalf of the client depending on his or her discretion. Proof to account is gathered, all the necessary items needed to prove ownership are sent to the holder. Because Edward Prior is a hands on executive, he has a direct or an indirect role in all claims and oversees this crucial aspect of the lost assets recovery. This includes advancing or paying any up front or out of pocket expenses needed for the client to get his claim paid.
Recovery of Funds
Once ownership rights have been established the claim is processed, reviewed and approved, Prior pushes for speedy payment of claim, knowing that in some circumstances the money is urgently needed. The check is sent to the claimant and after it has been deposited and clears the bank Prior sends an invoice to his client.
PRIOR AND ASSOCIATES
BBB has determined that Prior and Associates meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.
191 University Blvd. #373
Denver, CO 80206
Phone: 303 - 777-5235
PO Box 860
Captain Cook, HI 96704