STEP has received an unprecedented number of enquiries regarding Mr Steven Long and the companies of which he is a Director, namely Universal Tax Solutions of Dencora House, 34 White House Road, Ipswich, Suffolk, IP1 5LT, which traded as Universal Wealth Preservation. Associated companies include Universal Asset Protection Ltd and Universal Trustees Ltd.<\/p>\n
Mr Steven Long, Mrs Melanie Long and Universal Trustees Ltd act as Professional Trustees. Universal assisted clients with drafting and managing trusts, wills and lasting powers of attorney (LPAs), as well as providing secure storage of original documents.<\/p>\n
STEP suspended Mr Long\u2019s membership on 1 November 2017, and he was permanently excluded on 5 October 2018, following the completion of the disciplinary investigation into a number of the complaints received.<\/p>\n
Universal Asset Protection entered into compulsory liquidation in May 2018, with the business premises of Universal Wealth Preservation having closed several months previously. We do not know nor can we speculate why the business ceased trading.<\/p>\n
Clients contacted STEP after they experienced great difficulties in contacting Universal, with no responses to emails, letters or phone calls.<\/p>\n
We were advised by clients that they were concerned about the management of their trusts, with delays in estate administration and payments from the trusts being made, in addition to being unable to ascertain the whereabouts of their assets, or retrieve original wills and LPAs held in secure storage.<\/p>\n
Universal clients now face the realistic prospect that they are unlikely to retrieve original documents or to recover cash assets.<\/p>\n
Suffolk Constabulary investigated this and has seized all documents that were held at Dencora House.<\/p>\n
We understand from\u00a0media reports<\/a> in December 2018 that Steven Long was sentenced to a prison term for contempt of court for refusing to disclose the whereabouts of client assets. This is a civil matter and is not related to the investigation by the Eastern Region Special Operations unit. We understand that criminal investigations are still underway.<\/p>\n In October 2023, we became aware of media reports that two men had been charged by the police in relation to the collapse of Universal Wealth Management.<\/p>\n We understand that\u00a0Steven Long, 56, of Onehouse, Stowmarket, was charged with three counts of fraud by abuse of position, contrary to section 1-4 of the Fraud Act 2006 and Ray Simpson, 72, of Miranda Do Corvo, Portugal, was charged with one count of the same offence.<\/p>\n Steven Long appeared before Westminster Magistrates\u2019 Court on 8 November 2023 where he was charged with three counts of fraud. He did not enter a plea for any of these charges and his case was transferred to the Crown Court. He was due to appear in Southwark Crown Court on 6 December 2023.<\/p>\n Ray Simpson was not able to attend Westminster Magistrate\u2019s Court on November 8 on health grounds. His case was adjourned until 6 December 2023.<\/p>\n Steven Long pleaded guilty to two counts of fraud on 4 March 2026 and is due to be sentenced on 13 March 2026.<\/p>\n STEP is advising Universal clients to:<\/p>\n STEP has produced an article on what to look for when choosing a trustee<\/a>.<\/p>\n You can find a full Q&A on Universal here<\/a>.<\/p>\n If you have any queries, please contact standards@step.org<\/a>.<\/p>\nWhat should you do now?<\/h2>\n
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