Password reset link is missing/not visible

If a password reset link is not visible or missing from the Password reset email you can perform the following steps to fix this issue:

1. Make sure that the Password reset email template, which you can find in Ultimate member -> Settings -> Emails, contains {password_reset_link} placeholder. It is also important to add this placeholder even if you use custom email templates.

2. The password reset link can be sometimes blocked by some security plugins. You can try to disable a  security plugin and see if it blocks password reset link.

3. Spam filters or antimalware extensions can also block links in the email messages. We suggest using SendGrid to handle all email delivery. SendGrid provides up to 10,000 free email deliveries a month and your emails will be de delivered much faster and have far greater reliability than using the PHP mail() function. 

This article provides easy instructions on how to set it up:

http://chrislema.com/guaranteed-delivery-of-wordpress-mail-isnt-difficult/