The UK’s financial regulator The Financial Conduct Authority (FCA) announced that on 23 July 2024 Mr Justice Rajah in the High Court approved the Joint Special Administrators (JSAs) scheme to return client money and custodial assets to its clients WealthTek. This follows steps taken by the FCA last year to protect WealthTek’s clients from further harm following the discovery of serious regulatory and operational issues.
JSAs will contact clients to outline the next steps and any action they may need to take to access their money and investments.
Alternatively, customers can contact JSA directly:
- Email: WealthTekClients@bdo.co.uk
- Phone: +44 (0) 113 521 4470 or +44 (0) 151 351 4700
JSA announced their appointment as appointed broker. Investments will be transferred to the nominated broker once clients have signed up or clients can opt out of this through JSAs and choose an alternative broker/distributor option. For more information, visit the JSA website.
All customers should remain alert to the possibility of fraud. If clients receive cold calls from individuals claiming to be from WealthTek or BDO LLP, they should end the call immediately and contact JSA. More information on how to spot and report fraud is available on the FCA website.