UK financial regulator The Financial Conduct Authority (FCA) has announced that on 23 July 2024, Mr Justice Rajah in the High Court of Justice approved the Joint Special Administrators (JSAs) plan for returning client money and custody assets to WealthTek clients. This follows action taken by the FCA last year to protect clients of WealthTek from further harm after discovering serious regulatory and operational issues.
The JSAs will contact clients to outline next steps and any action they may need to take to access their money and investments.
Alternatively, clients can contact the JSAs directly:
- Email: WealthTekClients@bdo.co.uk
- Telephone: +44 (0)113 521 4470 or +44 (0)151 351 4700
The JSAs announced their appointment of a nominated broker. Investments will be transferred to the nominated broker once clients have been onboarded or clients can opt-out of this via the JSAs and choose an alternative broker/distribution option. For further information please visit the JSAs website.
All clients should remain alert to the possibility of fraud. If clients receive cold calls from people claiming to be from WealthTek or BDO LLP they should end the call immediately and contact the JSAs. Further information on how to spot and report scams is available on the FCA website.
