Keeping your money safe

Saltus has chosen to not hold client assets or client cash directly. Instead, we use a specialist firm known as a custodian to do this. After an extensive review of providers looking at a range of factors including expertise and financial strength, we selected Multrees Investor Services to provide custody services. They are frequent winners of prestigious industry awards, winning (amongst others) the ‘Best Global Custodian to Private Client Businesses’ at the Wealth Briefing European Awards in 2018, 2020, 2023 and 2024.

Multrees are a significant provider of custody and administration services to UK banks, wealth managers and family offices. They currently support over £24bn of assets, with a team based wholly onshore, across three sites: London, Edinburgh and Glasgow. As a specialist custodian (rather than a firm that also carries out investment activities of its own), Multrees have a low-risk business model: They operate exclusively as a custodian organisation, which means their sole priority is to ensure a safe environment for holding client assets. They are regulated (like Saltus) by the Financial Conduct Authority. We keep this relationship under regular review to ensure Multrees remain the most appropriate custodian for servicing our clients.

Multrees have a direct contractual link with all Saltus’s clients to provide custody and settlement services. In the event of Saltus’s insolvency, client assets held by Multrees would not be accessible to an administrator or receiver. The primary reason for using a segregated custodian is to ensure that, in the highly unlikely scenario of Saltus going into liquidation, the full value of a client’s investment portfolio could be quickly accessed by the client.

Multrees also work with firms such as Rothschilds, GAM and Stonehage Fleming.

Multrees segregate assets from their own holdings by placing all client assets into a nominee account. This is a regulatory requirement and Multrees work with an independent third party to carry out ongoing audits to ensure assets remain segregated.

Multrees uses two of the world’s largest custodians to support its activities (as sub-custodian), these are BNY Mellon, which globally holds over $30trn USD and Allfunds Bank, which has in excess of $1trn assets under administration.

In the unlikely event client assets were lost due to a coordinated custodian and sub-custodian failure, clients may be eligible to claim under the FSCS. This scheme can pay out a maximum of £85,000 per person. Further information is available from the FSCS at www.fscs.org.uk.

All Saltus portfolios are liquid meaning, under normal market conditions, any Saltus client can redeem at least 80% of their portfolio for cash within 5-days and the remaining 20% within 30-days. The latter 30-day redemption period only applies when clients hold funds that price on a 30-day basis. Clients that do not hold these types of funds should typically be able to redeem 100% of their portfolio within the 5-day period.

Some of the largest managers in the UK who hold upwards of £100 billion in AUM for clients have the same, or similar, levels of protection in place for their clients. The numerous levels of custodians used by Saltus and the consequent segregation of assets is one of the most effective protection methods available to wealth managers operating in the UK.

Instances of fraud are on the rise, with scammers developing new tactics every day. Their goal is to gain your trust and make you believe you are dealing with a legitimate person or company. Once they succeed, they can access your personal information, bank account, or computer.

If you believe you have accidentally shared personal or security information, take immediate action by contacting our Client Services Team:

Phone number: 01489 663700
Email: [email protected]

When reaching out, please provide details of the incident, including any information you may have shared and any relevant communications.

The protection of your accounts is our highest priority. We are dedicated to ensuring the safety of your funds and personal information through a comprehensive approach. To safeguard you and your assets, we have implemented multiple layers of protection, including physical, electronic, and procedural controls. Below, we highlight some of the key measures we use to maintain the integrity and security of your accounts.

Secure encryption

The security of your data is paramount. All your sensitive information on our core systems is protected through secure encryption protocols. This means that your personal and financial data is transformed into unreadable code, making it hard for unauthorised users to access.

When you visit our website or portal, ensure you look for the padlock icon next to the web address. This symbol indicates that you have a secure connection, ensuring that your information is protected whilst you browse or interact with our services.

Air gap security measures

We employ air gap security: a process that physically isolates our critical systems from external networks. This means that sensitive data is not accessible over the internet, significantly reducing the risk of data breaches. Our systems are safeguarded in a way that ensures only authorised personnel can interact with important data, creating an additional barrier against cyber threats.

We also use an independent third party to regularly test the strength of our security systems.

Rigorous testing and defence

Third party audits of our systems are regularly undertaken. This includes an independent evaluation of Saltus’s security practices, providing ongoing risk reduction recommendations. Furthermore, we employ specialists to attempt to breach our systems to highlight any weaknesses we may have so we can continue to improve the defence measures we have in place.

Two-factor authentication

Our client applications are secured with two-factor authentication (also known as 2FA), which provides an extra layer of protection for your accounts. Instead of relying solely on your password, 2FA requires a second verification step to confirm your identity.

Think of it like unlocking your front door. Your password is the key, but to enter, you also need a separate code. Even if someone has your key, they can’t get in without this additional code.
When using our technology to carry out any significant transaction, such as withdrawing from your ISA, we use two-factor authentication. It’s a simple, yet effective, step that provides extra security and peace of mind.

Forgotten password

If you ever forget your password, regaining access to your account is simple and secure. Our step-by-step password recovery process ensures that you can regain access without compromising your security.

Here’s how it works:

• Initiate recovery: On the login page, click the ‘Forgotten Password’ link.
• Enter your email: Provide the email address associated with your account and click ‘Reset Password.’
• Follow instructions: Check your email for instructions on how to reset your password, and simply follow the steps provided.

If you encounter any issues, please don’t hesitate to contact us directly for assistance.

Whilst we take extensive measures to protect your information, you can do your part as well.

Here are some tips to enhance your security.

Never share your login details

At Saltus, we value your privacy and security. Rest assured, we will never ask you to disclose your login credentials. If you receive such a request, cease all communication immediately and alert us by telephone.

Phone number: 01489 663700
Email: [email protected]

Avoid the temptation to store your login details in easily accessible places or jot them down together. If you must write them down, store your username and password in separate, secure locations. Always store recorded details in a safe and secure environment to prevent unauthorised access.

Whilst memorising a password is the most secure method, it can be difficult to manage multiple strong passwords. In practice, a reputable password manager, protected by a strong master password and multi-factor authentication, can be a secure and practical alternative.

Password creation

To protect your accounts, it’s essential to keep your passwords unique. A strong password strategy is a fundamental step in safeguarding your information.

Here are some best practices you should follow:

• Create strong passwords: Use a combination of letters, numbers, and special characters to enhance complexity. Avoid using easily accessible personal information, such as your child’s name or birthday, as these can be guessed by others.
• Avoid common words: Refrain from including common words or phrases that could be found in a dictionary, as these can be vulnerable to brute-force attacks. Additionally, stay vigilant against using easily guessable passwords like “Password1234” or variations thereof. Instead, opt for unique and unpredictable combinations to enhance your security.
• Regularly update your passwords: Change your passwords periodically to reduce the risk of them being compromised. Avoid reusing old passwords across different accounts.

Email security

To ensure your safety, always verify the sender’s email address and be cautious of unsolicited communications. Look out for warning signs, such as misspelled domain names or email addresses that don’t match the official organisation domain. It’s crucial to never share your personal information or security details via email.

Be aware that phishing emails often mimic legitimate messages, using Saltus logos and branding to appear credible. However, warning signs to watch out for include creating a sense of urgency to pressure you into clicking suspicious links or opening attachments.

If you are ever in doubt, contact us by phone before clicking any links or opening attachments. For more information and tips on staying safe online, visit Get Safe Online.

Beware of scams

We want you to feel secure and informed when it comes to your interactions with Saltus. Be cautious of any unexpected communications from us whether by post, email, or phone.

Here are some red flags to watch for that may indicate an investment scam:

• Unsolicited communications: If you receive unexpected contact, especially about investment opportunities, take a moment to verify its legitimacy.
• Pressure tactics: Scammers often create a sense of urgency, urging you to invest in time-limited offers. Genuine opportunities will allow you time to consider your options.
• Guaranteed returns: Be wary of any promises of guaranteed returns, especially those that claim to involve low or no risk.
• Secrecy requests: If you’re asked to keep an investment offer confidential and not to discuss it with others, it’s a significant warning sign.

If you have any doubts about a communication or opportunity, please don’t hesitate to contact us directly. You can also visit the Gov.uk website for any fraud advice and to report any suspicious activity: https://www.gov.uk/report-suspicious-emails-websites-phishing