What is UpWealth Finances? Is it a scam?
We found this UpWealth Finance when someone offered the investment opportunity saying that they were able to withdraw funds through their BTC wallet. Then we checked out the site and it seemed unsuspicious at first, but as I was writing this article I found out that one should always look for the littlest details before thinking about investing in anything.
What is UpWealth Finances: The Review Summary
Product Name: UpWealth Finances
Owners: UpWealth FInances Ltd
Price: From $100 to $1,000,000
Rating: 3/100
Best For: None
Recommended: Not Recommended
What is UpWealth Finances About: UpWealth Finances presents itself as an investment adviser under Apex Clearing Corporation as a broker.
Summary: Without any company registration it’s likely that they are just using Apex Clearing Corporation as a front to make it look like they are operating within regulations. There is great evidence that the company is operating without any registration.
What is UpWealth Finances About
Before we continue the story of how we found this seemingly well-intentioned investment advisory firm, let’s first take a look at the video that they have on the website that we initially associated with them.
Let me just point it out that investment advisers are legitimate professionals who provide client advice on which securities would be best for their customers, some even provide financial planning and some also offer managing investment portfolios. But even as they are considered legitimate professionals, they need to be licensed to conduct business just as every company that deals with financial and securities services.
From the video above and their website, we can infer that UpWealth Finances positions itself as a firm that conducts investment advising as is mentioned in the footer of their webpage.
But just before we probe the details of their legitimacy, let’s go over a few things that we found in my investigation. And I’m telling you these were quite shocking.
More Details About UpWealth Finances
Website
Well, I found that the website was only created in July 2021! Now that’s quite a young business, right?
But on their website, they are claiming that they already have more than 80k investors and 8.9-13.7% annual returns…
But as with some new business, bloating tactics is quite typical to attract customers, while it’s not an honest way to do it, it’s really quite a normal thing especially for business websites.
So I tried to probe around the website and look for something else that we can go on with… so I tried to look at the address on their website and I found that the address actually points to WinCo Foods in Salem, Oregon! Now that’s suspicious right!
But that’s not all, I found a few other websites that I’m sure are related to this first website that we are investigating, details are below:
| Website | Address | Date Created | Offered Products |
| https://upwealthfinances.net/ | 1260 Lancaster Dr SE, Salem, OR 97317, United States. | July 2021 | NFP Crypto Real Estate Stock |
| https://upwealthfinances.co/ | 1234 North Luke Lane, Atlanta, Georgia 30341 | August 2021 | NFP Cloud Mining (Crypto) Real Estate Stock |
Now how was I able to conclude that they are the same company? It’s because they use the same logo, and footer details, but the offer on its products differ on the two websites. For example, here are the offers of the two websites for crypto investment:
And now we wonder why they have two different websites when they use the same footer details except the address. You’ve seen the .net website’s footer details early in this article, here is the .co website’s version:
So for the next part of our investigation, we’ll look into the details mentioned in this footer.
Registrations
They did mention that their broker is Apex Clearing Corporation and for every investment opportunity it would be best to check if the broker is actually a legitimate one and should be registered in the financial institutions that govern it. And well, surprisingly, Apex Clearing Corporation checks out! Here’s a link to their details on FINRA and they also show up in results when you search for them in the SEC database. Sounds good right?
But then I also tried to look for the company details of UpWealth Finances Ltd. in Oregon and Georgia since they were addressed in those areas. And no they didn’t show up anywhere, I even looked into the business search function that covers the whole US and NOTHING SHOWED UP.
Now, what does this mean for us? Is UpWealth Finances a scam then?
Well, I tried to look for information about whether investment advisers really need a specific or certain registration or if it’s alright if they are not registered, just to make sure of anything we missed, and here’s what I found:
I did confirm it on Investor.gov and found an article that mentioned that investment advisers indeed SHOULD BE REGISTERED on SEC or state securities authorities:
Now we can’t find any company registration of UpWealth Finance… what more of their SEC registration right? But just to confirm I did search for them on databases, and nope, it’s not mentioned anywhere.
What does UpWealth Finances Offer?UpWealth Finances offers investment choices that are customizable according to the clients’ preferred strategy and budget. Sincew it has two websites that offers different packages for their products let’s put them into one table:
| Product | Offered version in upwealthfinances.net | Offered version in upwealthfinances.co |
| Non-Farming Payroll (NFP) | Starting from $5,000 Fixed interests every month  Payout on each closing session No tax deductions Pull-back traded stragegy |
10% Weekly Minimum of $ 5,000 Payout on each closing session No tax deductions Pull-back traded strategy |
| Cryptocurrency/Cloud Mining | Crypto Investment Min: $100.00 Max: $1,000.00 Fixed interest up to 3% daily interest Financial planning session No tax deductions Automated Fund AllocationCrypto VIP I Min: $1000.00 Max: $10,000.00 Fixed interest up to 5% daily interest Financial planning session No tax deductions Automated Fund AllocationCrypto VIP II Min: $10,000.00 Max: $100,000.00 Fixed interest up to 15% daily interest Financial planning session No tax deductions Automated Fund Allocation |
INNOSILICON T3+ .53TH/S 3% After 7 days Min: $200.00 – Max: $10,000 Fixed 3% daily interest Financial planning session No tax deductions Automated Fund Allocation CANAAN AVALONMINER 1066. 50TH/S 7% After14 days Min: $10,100.00 – Max: $40,000 Fixed 7% daily interest Financial planning session No tax deductions Automated Fund Allocation MICROBT M31S. 74TH/S 5% Weekly for 1-3-6 Months Min: $40,100.00 – Max: $100,000 Fixed interest up of 5% daily Financial planning session No tax deductions Automated Fund Allocation BITMAN T19, 84TH/S BTC, GOLD & OTHER ASSETS 10% Weekly/Monthly for 6-12 Months Min: $100,100.00 – Max: $500,000 Fixed 10% daily Interest Financial planning session No tax deductions Automated Fund Allocation |
| Real Estate | Real Estate Investment Min: $10,0000 Max: $1,000,000 Fixed interest up to 30% weekly Financial planning session No tax deductions Automated Fund Allocation |
RESIDENTIAL REAL ESTATE 10% Monthly for 1 – 1.6mts – 2 YearsMin: $10,000.00 – Max: $50,000 Fixed interest up to 10% Monthly Financial planning session No tax deductions Automated Fund Allocation COMMERCIAL REAL ESTATE 15% Monthly for 1 – 1.6mts – 2 YearsMin: $60,000.00 – Max: $100,000 Fixed interest up to 15% Monthly Financial planning session No tax deductions Automated Fund Allocation INDUSTRIAL REAL ESTATE 25% Monthly for 1 – 1.6mts – 2 YearsMin $100,100 – Max $500,000 Fixed interest up to 25% Monthly Financial planning session No tax deductions Automated Fund Allocation |
| Stock | CORE $1000 – $30,000 20% weekly interest Everything you need to invest like an expert Personalized portfolio Auto-rebalancing Dividend reinvestingAdvanced $30,000 – $60,000 25% weekly interest Everything you need to invest like an expert  All core features + Financial planning session Tax lost harvesting Tax efficient fundsPremium $60,000 – $100,000 30% weekly interest Everything you need to invest like an expert All advanced features + Dedicated team of advisers Personal investment report Asset allocation |
CORE 5% Weekly Min $1000 – Max $30,000 Everything you need to invest like an expert Personalized portfolio Auto-rebalancing Dividend reinvesting Account support ADVANCED 10% Weekly Min $30,000 – Max $60,000 Everything you need to invest like an expert All core features + Financial planning session Tax lost harvesting Tax efficient funds PREMIUM 15% Weekly Min $60,000 – Max $100,000 Everything you need to invest like an expert All advanced features + Dedicated team of advisers Personal investment report Asset allocation |
It’s very curious and I’d love to know why they offered different packages for their products… are they really the same website?
How Does UpWealth Finances Work?
According to their websites, you can invest through them through these steps:
Well, this is actually how it goes when you decide to invest in something. But would you want to invest in an unregulated website? If you do then you should know that when you are knowingly investing in an unregulated company you’re willingly giving up your rights to any dispute or consumer protection cause they decided to run away with your money.
Refund
There were no Terms of Service or any Refund Policy mention on their website so it could likely mean that there is no refund or anything to your investment.
Can You Really Make Money Through UpWealth Finances?
If UpWealth Finance is actually a real investment adviser then it’s most likely that your funds are in good hands and you can really profit through your long-term or short-term investment. But since they are not a registered company using the name of Apex Clearing Corporation as their “broker” then there’s no guarantee that you can make money through UpWealth Finances.
How Much Does It Cost to Join UpWealth Finances?
When I compared all the investment offer on their website I found that the minimum investment they have is under their Crypto investment which is $100 and the maximum is $1,000,000 for a real estate investment.
7 Obvious Reasons to Skip UpWealth Finances
- They don’t have Terms of Services and Privacy Policy which risks your funds and your personal information
- They have two websites which are under different addresses
- Even as they have two addresses, their company, UpWealth Finances Ltd. is not registered anywhere or anywhere in the US
- They are merely using the name of Apex Clearing Corporation as it is a registered broker
- One of their websites’ address is actually a WinCo Foods location
- Licensed and registered financial firms doesn’t require clients to use digital wallets or assets to invest
- Legitimate professional will never give out unsolicited offers
What is UpWealth Finances [Is UpWealth Finances a Scam?]
Just to be fully transparent with you, I am not an affiliate or investor of UpWealth Finances myself and I do not endorse it in any way.
I have researched the website, testimonials, and information on the Internet to get to the bottom of what
UpWealth Finances genuinely does. This is because I have been burnt from programs just like this in the past and I want to prevent others from making the same mistakes. If you’d like to learn Ways to Avoid Online Scams then click the highlighted text.Before I give out my view about UpWealth Finances, here is a part of an article in the Securities and Exchange Commission on how to spot fraudsters posing as brokers:
Here is the transaction shown by someone recruiting us in it, it’s an email about a BTC withdrawal (I omitted some personal details)…
Do remember that SEC warned previously that digital assets and wallets are not needed…plus add the fact that we uncovered that it’s an unregistered company using a registered broker as their front…
It’s actually for you to answer, is UpWealth Finances a scam?
Pros and Cons of UpWealth Finances
UpWealth Finances Pros
None
UpWealth Finances Cons
- A user showed that their withdrawal was through their digital wallet which is one of the red flags mentioned by SEC
- It’s an unregistered company
- It’s only using the name of Apex Clearing Corporation (a legitimate registered broker)
- Websites were only created this year, the business is therefore new.
Final Verdict – What is UpWealth Finances
A quick take of this UpWealth Finance review: I don’t recommend investing in any of UpWealth Finances offers even if it’s as small as $100 because it’s an unregistered company using the name of a registered broker. There is no sense in risking your hard-earned money in something that is glaringly a probable fraud.
Up until there is actual and verifiable proof of the registration of UpWealth Finances under SEC, FINRA and the State they are under in, is the only way that we’d reevaluate our stance that UpWealth Finances is a probable scam.
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Louee Gonzales has been a content specialist for 4 years now. She has been enjoying wiring investigative articles for EFYL. If she’s not writing, she’s either painting or travelling somewhere fun.
She has a degree in Psychology, and quick fact: she can’t read your mind. She has authored articles on School of Positive Transformation.
This Blogpost is originally from What Is UpWealth Finances? | 7 Obvious Reasons to Skip it
source https://earnfromyourlaptop.com/what-is-upwealth-finances-review/
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