Custody

WealthKernel is an FCA-regulated custodian. Our service enables fintechs and advisors to custody the client money and assets of their users.

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Remove complexities

WealthKernel’s turnkey solution removes the regulatory and technical complexity of holding your users’ client money and assets. Using our custody service, companies can easily outsource a critical part of their operations to a trusted UK custodian. Safety - Our custody solution ensures fully FCA-compliant safety of client assets and money. Protection - Clear and transparent record keeping, accessible via our API.

How it works
Our Regulatory Accreditations
WealthKernel holds the Safeguarding and Administration of assets (without arranging) permission from the FCA and strictly adheres to the CASS rules.
Safety and Security
We are responsible for safeguarding and securing client money along with records, accounts and reconciliations. We hold client money in segregated client money bank accounts.
Client Assets
WealthKernel segregates assets according to the CASS rulebook to protect them. We hold client assets in a specific client asset account and ensure that client assets are applied to a client portfolio. We engage in strict record-keeping and have a robust root-cause framework to investigate breaches.

Reconciliation and contingency checks

WealthKernel conducts regular audits to ensure that our systems and processes around Client Money are working appropriately. We also hold separate books and records to compare and ensure that our records are correct.

We conduct daily reconciliations separate from the creation and maintenance of the underlying records.

The reconciliation checks are below - WealthKernel has several procedures in place to protect client money and assets in the unlikely event of an insolvency - so, your client assets are protected with us.

External Reconciliation
Matching our records against the external records of either of our banks.
Daily External & Internal client money calculation
Matching the aggregated customer records with our aggregate level records from system accounts.

WealthKernel has several procedures in place to protect client money and assets in the unlikely event of an insolvency - so, your client assets are protected with us.

Frequently asked questions
Do WealthKernel engage in lending activity?
Why do you segregate assets?
How do you perform segregation of client money and assets?
How often do you reconcile?
What is an "external" reconciliation?
What is "holding separate books and records"?
What is CASS?
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WealthKernel Limited is authorised and regulated by the Financial Conduct Authority, no. 723719, registered in England and Wales, no. 09686970, with a registered office at 41 Luke St, London, UK, EC2A 4DP. WealthKernel Limited  is covered by the Financial Services Compensation Scheme (FSCS). This means you may be entitled to compensation up to £85,000 in the unlikely event that we’re unable to meet our financial obligations to you. These limits may change in future. You can find out more at www.fscs.org.uk.
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WealthKernel is an ISO 27001:2022 certified company.

Ranked as one of the Top 100 WealthTech companies globally

Member of Technation's Fintech 3.0

WealthTech of the Year 2022 at the Fintech Awards London