Universal Seminars, Universal Wealth Preservation etc Dencora House Ipswich - views?

Doc_N

This group of companies operates across the UK under various names and websites such as:

http://www.howtokeepitinthefamily.co.uk/

http://www.universalwealthpreservation.co.uk/

http://www.universalseminars.co.uk/

The grand-sounding address shown below appears to be just part of a large industrial-style building on a trading estate on the outskirts of Ipswich. It's not clear how many units they operate from, but it looks like around two or three.

Universal Head Office
Dencora House
34 White House Road,
Ipswich,
Suffolk
IP1 5LT

Steven Long is the main director, with around 14 companies operating, apparently, in the same general field, from the same address.

https://beta.companieshouse.gov.uk/officers/wTFPACM6IZyZlChRzXItfbNDRc0/appointments

They run free seminars across the country, advertised, it seems, by means of leaflets dropped through doors and the various related websites.

Here's the spiel:

"Over the past twenty years, we have held seminars throughout the country that have helped tens of thousands of people just like you to protect their families.

We invite you to come along and find out what problems people commonly face and what options are available so that you and your family can avoid them.

We have developed simple yet comprehensive solutions to both everyday and complex problems. Presented in plain English, key topics are addressed in a clear and logical manner.

Christopher Seddon Each seminar normally lasts around 2 hours with a comfort break halfway and is presented by Christopher Seddon, a qualified (Non-practising) Solicitor with decades of experience in Estate Planning.

This FREE seminar takes you step by step through the maze of traps and pitfalls that can catch out the unprepared. Universal specialises in Wealth Preservation and Asset Protection.
Christopher Seddon has helped thousands of clients and their families plan effectively for their future.

As a father, Christopher has experienced first-hand the complex decision making process we all have to go through when considering how best to ensure that our families continue to benefit, across the generations, from all the hard work we have put in to build an effective capital base.

As a step-father he is very aware of the added complications that many face today in trying to fairly and effectively provide for various family members.

He has contributed to a book dealing with family finances and how to protect them, as well as lecturing internationally on Estate Planning issues."

Having attended one of their seminars recently (pretty slick, with a Q&A session at the end and a discounted price for anyone signing up within a limited period of time) I'm curious to know whether anybody's actually used their services.

If so, what's the feedback? I think any feedback could be quite valuable, because there doesn't seem to be a great deal online so far about these companies, and Steven Long.

Doc_N

A bit more digging uncovered this:

http://www.bbc.co.uk/news/uk-england-15405097

Firm criticised over care home fee plan





Possibly, as this was a 2011 news story, things have changed, but they are still pushing their "Universal Wealth Preservation Trust" and I'm curious to know if things have changed.

dunstonh

Having attended one of their seminars recently (pretty slick, with a Q&A session at the end and a discounted price for anyone signing up within a limited period of time) I'm curious to know whether anybody's actually used their services.

That is pretty much the standard seminar model regardless of topic. Most also dont actually discount on the day. They just say they do to encourage immediate sign ups.

Having typed that postcode into the financial services register, there is no active company regulated by the FCA operating out of that address. So, whilst some bits of estate planning can be done without FCA regulation, there are bits that do require it. So, that would suggest a limited scope. Probably focusing on discretionary will trusts.

Of course, for the majority of the population, this isn't the issue that it once was.

Doc_N

dunstonh wrote: »

Of course, for the majority of the population, this isn't the issue that it once was.

Why do you say that? :huh:

Rollinghome

Doc_N wrote: »

Why do you say that? :huh:

Higher IHT threshholds.

To give the company its due, after paying them their tasty fees there'll be a lot less money left to pay IHT on.

Doc_N

Rollinghome wrote: »

Higher IHT threshholds.

To give the company its due, after paying them their tasty fees there'll be a lot less money left to pay IHT on.

Not so sure about that - it's still £325,000 per person (no change on that until next April, and even then only a gradual annual increase in the main residence band) and many house prices in London and the south-east are in excess of £650,000.

Probably their most popular 'scheme', the Universal Wealth Preservation Trust, doesn't do a great deal about IHT either because it's centred on a gift with reservation. The house goes into a trust, but the settlor still lives in it. They claim nursing home fee protection as one of the benefits.

dunstonh

Not so sure about that - it's still £325,000 per person (no change on that until next April, and even then only a gradual annual increase in the main residence band)

Which by itself sees most people not affected. However, add in spouse and its £650k.

We are not saying that it is no good for everyone. Just that its not as important as it once was and that for most people, they worry more than they should about it as the reality is that the odds of needing funded care are far lower than the perception.

nd many house prices in London and the south-east are in excess of £650,000.

And as the referendum showed, there is more to the UK than London.

They claim nursing home fee protection as one of the benefits.

And again, just a very small proportion of people are affected by this and there have been a number of changes which reduce the impact on spouses still living at home.

Remember that they are encouraging what some would consider to be tax evasion rather than avoidance. Look at what it says on their site:

Every year tens of thousands of people are forced to sell their home to pay for residential care because they are no longer able to live independently. Many thousands more are unable to pass their home on to their children because the Local Authority has taken a charge over it to be paid on their death.

Morally, should taxpayers foot the bill for someone who has assets of hundreds of thousands of pounds?
A lot of social care is not means tested. However, where it is, it tends to be very basic and aims to maintain a living standard at or above the bread line. Not something you would want to plan on. Only 16% of people aged 85+ live in care homes. Yet the 85+ account for 59% of the care home population. The care home population has remained more or less stable since 2001 (an increase of just 0.3% despite 11% growth in population).

Finally, there has to be a valid reason for giving away your home. It cannot be done on the basis of avoiding means testing. If it is done for that reason then the local authority can treat it as deprivation of assets. So, any arrangements done have to have another reason. Estate planning could be a valid reason and the means test a happy coincidence.

UniversalVictim

I have some more information about this company/firm and, unfortunately, it's not good news.

Like many others, I have been unable to contact Universal by phone and, given the recent posting on this forum suggesting that the company had gone bust, I travelled to Ipswich to try to find out what had happened.

When I arrived, the metal gates to the premises were locked closed and there was a notice attached which read:

'If you need to contact Universal, please either call us on 01473 808080 and leave a message or send us an email at enquiries [at] universalgroup [dot] co [dot] uk (amended by me)

The site looked rather deserted although there were four cars parked at the far end. While I was there, another car pulled up and the couple advised that they were similarly affected. Then another man came and advised that he ran the business next door and had heard that a number of staff had been laid off, the reason given that Steven Long had suffered a bereavement. He added that the gates were locked all day and only opened at the start of the day when the people arrived and in the evening when they left.

This is obviously not good news and puts a serious doubt on anyone who is the beneficiary of trusts under the control of Universal seeing their money in the short term, if at all. What is not clear is whether there has been any criminal activity within the business, in particular by creaming off assets held in trust. The big problem is that the activities of Universal appear to be largely unregulated and whilst Long is a member of STEP, STEP is a trade organisation rather than a regulator with any real powers. What is also not clear is whether Universal has, in fact, gone bust. My suspicion is that they haven't and are just trying to lie low.

I spoke to a lady from STEP this morning who was 'aware' of Universal but not of the rumours surrounding possible insolvency. She has taken up the case and has requested any information about the organisation. I do not have her permission to give her details on this forum but if you phone STEP on 020 3752 3700, go through the automated answer menu to get to the switchboard and ask to speak to someone about Universal, you should get through to the right person.

I am not a lawyer so I can't give any advice other than to suggest the following:

1. If you haven't already done so, refer to a solicitor
2. Report Universal to Suffolk Trading Standards. The more people that complain, the more likely they are to act. However, referrals to TS need to be done via Citizens Advice - google 'Ipswich Trading Standards' for the process.
3. If you suspect that any criminal activity has taken place, report it to Action Fraud

UniversalVictim

Further to my post yesterday, I have now heard from someone who has managed to speak to a member of the Universal team on the number supplied. They were advised that the company is functioning normally. albeit with reduced staff. Their advice is to phone 01473 808080 and leave a voicemail - someone should call you back within 24-48 hours. They also state that due to the reduced staffing, they will only see people with appointments at their premises.

I will be proceeding on this basis and sincerely hope that this will bring resolution without the need to escalate to either Trading Standards or Action Fraud. However, I remain of the view that the situation is precarious and engaging a soliticor is a sensible precaution.

PSW1959

Hello
My father contacted me today because he had just found out about problems with Universal Trustees.
He had believed every word they had said and handed over half his house and a fairly substanial amount of money believing that it would be protected and that apart from the fees paid his house and money would be returned to him in due course.

Having read previous post and checking link to Companies house, plus what Dad had found out - such as Police action, I am very worried about my Dad's money and house fearing he may lose all or some it. Also at his age this is causing a huge amount of stress to him.

So is anyone else impacted on by this?

Does anyone have info about any successful removal of this company as Tristee such as transfer to another company / setting up of own trustees?

Is anyone aware of a joining of individuals to take this to court?

Can anyone provide any updated info?

Thank you

Doc_N

PSW1959 wrote: »

Hello
My father contacted me today because he had just found out about problems with Universal Trustees.
He had believed every word they had said and handed over half his house and a fairly substanial amount of money believing that it would be protected and that apart from the fees paid his house and money would be returned to him in due course.

Having read previous post and checking link to Companies house, plus what Dad had found out - such as Police action, I am very worried about my Dad's money and house fearing he may lose all or some it. Also at his age this is causing a huge amount of stress to him.

So is anyone else impacted on by this?

Does anyone have info about any successful removal of this company as Tristee such as transfer to another company / setting up of own trustees?

Is anyone aware of a joining of individuals to take this to court?

Can anyone provide any updated info?

Thank you

I think you'll find this thread of use:

https://forums.moneysavingexpert.com/discussion/4935458/help-please-with-universal-wealth-preservation-trust&page=16