James (Jim) Sadik is a Managing Director for the Unclaimed Property Management Solutions Team of True Partners Consulting. Jim has extensive experience in all aspects of unclaimed property including the conducting of large scale general ledger multi-state audits, voluntary unclaimed securities compliance and reporting, and audit defense. Jim currently specializes in the defense of publicly traded companies who are subject to multi-state unclaimed securities audits, audit defense of registered broker/dealers and banks, along with representing holders in a variety of industries including life and property/casualty insurance, retail, manufacturing, and energy exploration.
Before joining True Partners Consulting LLC, Jim held the position of Senior Manager of Unclaimed Property Operations at Verus Financial LLC, where he participated in various multi-state unclaimed property examinations of many large life insurance companies.
Over a 20 year period, Jim held various management positions at the ACS Unclaimed Property Clearinghouse. He supervised numerous multi-state audits of property & casualty insurers, retirement asset custodians, consumer electronics and medical device manufacturing companies. Jim was also a Manager in the PricewaterhouseCoopers LLP State & Local Tax practice in Boston, MA, where he specialized in providing unclaimed property audit defense services to client companies.
- 28 years’ experience in unclaimed property auditing and consulting, Jim has represented virtually every state in the auditing of Fortune 500 companies for the purpose of identifying past due unclaimed property liabilities. Jim’s industries of focus have included mutual funds and broker dealers, consumer electronics manufacturing, rebates and consumer promotions, property & casualty insurance companies, and life insurance companies.
- Jim has extensive experience in voluntary unclaimed property reporting, specifically in the areas of unclaimed securities reporting and in the reporting of property owed to states as a result of the major insurance company demutualizations. Jim also has extensive knowledge of financial services industry record-keeping systems (insurance, stock transfer, retirement assets, stock brokerage accounts) and how they are impacted by unclaimed property reporting requirements.
- Jim has spoken at holder education and industry seminars hosted by UPPO, Lorman, the IRS Compliance Regulatory Tax & AP Conference, the Treasury Management Association of New England (TMANE), the New England chapter of the American Payroll Association, and the Shareholder Services Association.
Affiliations & Education
Associate Member, Association of Certified Fraud Examiners
Member, Unclaimed Property Professionals Organization
Bachelor of Arts, Economics, University of New Hampshire