WealthTek LLP

Reference number: 832264

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Scammers have impersonated this firm. The FCA has published 1 warning naming the fake phone numbers, emails and websites they used. See the warnings →

Authorised, but in an insolvency process

This firm is under the control of insolvency practitioners and may have stopped taking on new business. If you are or were a customer, deal with the appointed office holders rather than the firm.

What the FCA says

ATTENTION - Firm in an insolvency process

This firm is in an insolvency process. It is under the control of the appointed insolvency office holder(s) and may have stopped taking on new business. It has to continue to meet our standards in line with its regulatory status, including when dealing with its customers. If you are/were a customer check how this affects you with the firm or the appointed insolvency office holder(s).

Website, phone number and address

Compare these against whatever you were given. Scammers clone real firm names and reference numbers but use their own phone number and website, so a detail that does not match the register is the clearest warning sign there is.

  • No website on the FCA register

  • No phone number on the FCA register

  • Address

    Shane Crooks, BDO LLP, 55 Baker Street, London, W1U 7EU, United Kingdom

In the full report: 1 background check

  • Who else gives the postcode W1U 7EU
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Other names (5)

If you were contacted under any of these names, it is this firm.

  • Malloch Melville Trading name
  • Vertem Asset Management Trading name
  • Vertus Asset Management Limited Liability Partnership Former name
  • WealthTek Former name
  • Vertus Wealth Former trading name

Warning

Scammers have impersonated this firm

Fraudsters have used this firm's name or details with their own contact information to appear genuine. Check whatever you were given below, and against the firm's real details above.

Fake phone numbers (1)
  • 0191 341 0232
Fake email addresses (1)
  • info@vertemassetmanagement.com
Fake websites (1)
  • vertemassetmanagement.com
The FCA warning these came from

Scammers change these details often. Always check the live FCA warning.

Past FCA permissions and consumer protection

  • In an insolvency process
    Money the firm held is returned through the appointed office holders, which takes time and can fall short. The FSCS covers eligible claims up to its limits, and the Ombudsman can still look at a complaint.
Show FCA detail (5 permissions)
  • Advising on investments (except on Pension Transfers and Pension Opt Outs)
  • Arranging (bringing about) deals in investments
  • Dealing in investments as agent
  • Making arrangements with a view to transactions in investments
  • Managing investments

Limits on the record

  • WealthTek LLP must cease carrying on all regulated activities for which it has a Part 4A permission, other than where it has the express written consent of the FCA and must not on-board any new customers - W.E.F 04/04/2023
    Restriction on activities 1. The Firm must immediately cease carrying on all regulated activities for which it has a Part 4A permission, other than where it has the express written consent of the Authority, following the issuance of the First Supervisory Notice. 2. The Firms must not on-board any new customers. Notification requirements 3. The Firm must, within 72 hours of the receipt of the notice, (i) write to all its customers; and (ii) publish in a prominent place on all platforms upon which its customers are placed, informing each of them of the imposition of the Requirements and their effects, in a form and by a method of delivery each to be agreed in advance with the Authority; 4. Once the notifications referred to in sub-paragraph (3) above have been made, within 24 hours, the Firm must provide to the Authority: a. A list of all parties to whom notifications have been sent; and b. Confirmation that, to the best of its knowledge, the Firm has sent the specified notifications (in the form agreed with the Authority) to all relevant parties. Retention and notification requirements 5. The Firm must secure all books and records and preserve all information, including material held via online/cloud-based systems to which the Firm has access, in relation to regulated activities carried on by it. These include but are not limited to all: a. Client lists; b. Communications with clients; and c. Financial records. These books, records and information must be retained in a form and at a location within the UK to be notified to the Authority within 24 hours of the receipt of this notice. The records must be retained in a form and at a location such that they can be provided to the Authority, or to a person named by the Authority, promptly upon its request.
  • This firm may handle your money in passing but must not hold it, so payments should go to the product provider, never to a personal account.

FCA disciplinary action and complaints

No FCA disciplinary action.

The Financial Ombudsman Service only publishes complaint figures for firms with 30 or more new complaints in six months, so there are none here for this firm.

The clone warnings above are scammers using this firm's name, not something the firm has done.

Companies House record

The company behind the firm: its status, age, registered office and directors.

Concerns on the company record

  • Companies House records this company in administration, but it is still authorised on the FCA register.
  • Accounts are overdue at Companies House.
  • Confirmation statement is overdue at Companies House.
  • This company has insolvency history on record.
Company name
WEALTHTEK LIMITED LIABILITY PARTNERSHIP
Company number
OC355200
Company status
Administration
Company type
Limited liability partnership
Incorporated
24 May 2010 (16 years old)
Registered office
BDO LLP, 5 Temple Square Temple Street, Liverpool, L2 5RH

Directors and company secretaries

Name Role Born Appointed Other companies
John Edward Dance LLP designated member Nov 1974 1 Apr 2013 8 other companies
WEALTHTEK CAPITAL LIMITED Corporate LLP designated member Not published 31 Aug 2021 None

Other companies run by these 2 directors

A firm is run by people, and their other companies are their track record: what they built, what closed, and anything that failed. It is the check most people never think to make.

other companies
8
closed down
7
went insolvent
1

In the full report: all 8 companies, named

  • What each company does, and whether it is still trading
  • Which of these 2 directors sit on each board, and since when
  • The one that went into liquidation or administration
  • All 12 people who have ever been directors, with their dates
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Filed accounts and finances

Year to 31 March 2020Small company accountsNot audited

Cash at bank

£22.6k

No earlier figure to compare

Employees (average)

11

No earlier figure to compare

Owed within a year

£369k

No earlier figure to compare

Its next accounts are overdue at Companies House.

About these figures
Turnover
Money taken from sales in the year, before any costs.
Profit before tax
What was left after the year’s costs, before corporation tax. A minus figure is a loss.
Net assets, or total equity
Everything the company owns minus everything it owes. A minus figure means it owes more than it owns.
Total assets and total liabilities
Everything the company owns, and everything it owes, on the last day of the year. The gap between them is its net assets.
Cash at bank
Money in the company’s accounts on the last day of the year.
Owed within a year, owed after a year
Debts and bills due in the next twelve months, and those due later.

There is no turnover or profit: small companies do not have to publish them.

Accounts filed at Companies House for company OC355200. Figures are exactly as filed; nothing is estimated.

Key dates in its history

WealthTek’s history from the FCA register and Companies House, newest first.

Key events (13) All events (35)

2023

13 October 2023

  • FCA warned the public about a scam impersonating this firm

FCA warning list

4 April 2023

  • FCA imposed a requirement (WealthTek LLP must cease carrying on all regulated activities for which it has a Part 4A permission, other than where it has the express written consent of the FCA and must not on-board any new customers - W.E.F 04/04/2023)

FCA register

2022

10 January 2022

  • Changed its registered name from "WealthTek"

FCA register

2021

31 August 2021

  • John Edward Dance stopped being a part-owner
  • Wealthtek Capital Limited took control (75–100% of votes)

Companies House

1 May 2021

  • Garddangate Holdings Ltd stopped being the majority owner

Companies House

13 January 2021

  • Changed its registered name from "Vertus Asset Management Limited Liability Partnership"

FCA register

2020

28 January 2020

  • Regulated by the FCA from this date
  • FCA imposed a requirement (May control but not hold client money)
  • Became authorised by the FCA

FCA register

2018

19 November 2018

  • John Edward Dance became a part-owner (25–50% of shares)

Companies House

2016

6 April 2016

  • Garddangate Holdings Ltd became the majority owner (50–75% of shares)

Companies House

2010

24 May 2010

  • Incorporated at Companies House

Companies House

In the full report: all 35 events

  • All 35 events in its history (13 shown here)
  • Every director appointment and resignation: 17
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Firms like WealthTek

Other firms of the same type (investment or fund manager), nearest first.

In London

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Firms are listed by type and location, best known first. Being listed is not a recommendation: check any firm before you deal with it.

Get the full report on WealthTek

Everything on this page, plus everything locked above, in one dated PDF you can keep, file or send on.

  • 8 other companies its directors have run, named
  • 1 background check on its contact details
  • All 35 events in its history

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Frequently asked questions about this firm

Is WealthTek LLP FCA authorised?
Yes, WealthTek LLP (FRN 832264) is authorised by the FCA to carry out regulated activities. It is also in an insolvency process, under the control of insolvency practitioners, so deal with the appointed office holders rather than the firm. It has held its current authorisation since January 2020 and works as an investment or fund manager. The FCA has placed 2 limits on what it may do.
Is WealthTek a scam or clone?
Scammers have impersonated WealthTek: the FCA has published a warning about fake versions of it, using contact details that are not the firm's. Only trust the details the FCA register gives for WealthTek, shown on this page.
Is my money safe with WealthTek?
WealthTek is under the control of insolvency practitioners, so money it held is returned through the appointed office holders rather than by the firm. That takes time and can fall short. Where money is missing, the FSCS covers eligible claims up to its limits, and the Financial Ombudsman Service can still consider a complaint.
Who owns WealthTek?
WealthTek is owned by Wealthtek Capital Limited, which holds 75–100% of votes, since 31 August 2021. Before that, it was controlled by John Edward Dance and Garddangate Holdings Ltd.
Who runs WealthTek?
Companies House lists 2 directors of WealthTek: John Edward Dance and Wealthtek Capital Limited.
How long has WealthTek been in business?
The company was formed on 24 May 2010. Companies House now lists it as administration.
What do WealthTek’s latest accounts show?
Its latest accounts, to 31 March 2020, show cash at bank of £22.6k (no earlier figure to compare). Its accounts are overdue at Companies House.
Does WealthTek use any other names?
It trades as Malloch Melville and Vertem Asset Management. It has previously used 3 other names: Vertus Asset Management Limited Liability Partnership, WealthTek and Vertus Wealth.

Sources and links

The full report on WealthTek LLP

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