The Universal Wealth Scandal

Not to be Trusted –How Universal Wealth Management has cost people thousands

As experts in Contentious Probate, we have seen a rise in the number of individuals effected by the Ipswich based company Universal Wealth Management. Before the company was put into Insolvent Liquidation in 2018, it assisted clients with drafting and managing trusts, wills and lasting powers of attorney.  

Universal Wealth Management launched a campaign called ‘Keep it in the Family’, the campaign promised to ring fence investors’ assets from future inheritance tax and care home fees. The target market of these campaigns was those around or above retirement age. Investors placed their homes and substantial life time cash savings into a trust with the firm, who were appointed as executors and trustees over the trust property. 

Ultimately, the outcome was catastrophic. The trusts failed to carry out their primary purpose, which was to protect inheritance tax and care home fees, they actually had an adverse effect and incurred an enormous Capital Gains Bill for the investors. Unfortunately, the cash invested into the trust was untraceable. The company went into Insolvent Liquidation in 2018 and Mr Long is currently in prison for failing to account for the missing sums. 


What can we do?

At IDR Law, not only are we a boutique Contentious Probate firm,  we are the only firm at present to have obtained a successful judgement to set aside the trust over a family home created by Universal Wealth Management. 

It is worth noting, that aside from the heartbreak of losing lifelong savings or potentially being subject to a large Capital Gains Bill which can amount to the value of the property, this is an extremely distressing issue for all of those effected. This is especially given that investors were trying to preserve their children’s or relatives inheritance with the idea that should the investors need to be placed in care homes or be subject to large inheritance tax bills this money would be safe. 

At IDR Law, we are experts in Contentious Probate and we handle all situations with sensitivity. Often, individuals who have invested in a trust may not be aware of the implications. Therefore if you believe that a family member or friend may have placed their property in trust, it could be worth discussing this with them, as naturally the incidental Capital Gains Tax bill was not advertised by Universal Wealth Management.  

We are able to help clients who may have placed their property in a trust by working to get this set aside on the basis that the Capital Tax Bill was not a known consequence. If you know anyone in this situation, please do not hesitate to contact us. Our landmark ruling is only the beginning of how we can help our clients rectify the damage caused by Universal Wealth Management. 


Meet Roger, a previous client of Universal Wealth and discover how Kate Saunders, Senior Associate here at IDR helped to resolve the issue.



If you have a client that has been affected by Universal Wealth or the Philips Trust corporation, please contact us today for a a free review of the trust documents.


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