Financial services firm True Potential has announced significant year-on-year increases in turnover and profits and a larger wealth management team.
The True Potential group of companies has increased turnover to £18.9m to the end of September 2013 – a rise of 139 per cent against the same period in 2012 (£7.9m). January-September has delivered £3.6m pre-tax profit for the group, a 44 per cent increase on the same period in 2012.
The number of advisers using the True Potential Wealth Management platform has also grown with the total now reaching 347. This represents an increase of 265 per cent from the same period in 2012 when the firm had 95 wealth management partners.
Neil Johnson, senior partner at True Potential LLP, making the announcement at the firm's annual sales conference in Newcastle upon Tyne this week, said: "Since the introduction of RDR, the financial services sector has experienced changes like never before.
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"In today's market, advisers need to be armed with the most powerful, most user-friendly tools available to them. Our financial results show that this is a challenge that we were prepared for and many advisers are choosing to use our technology and join our wealth management arm to succeed in today's market.
"In order to attract and retain customers, advisers must be able to show added value. We are committed to developing innovative ways to allow advisers to service clients more effectively than ever before, in a way that suits their lifestyle."
The True Potential group of companies, which includes True Potential Investments LLP, True Potential Wealth Management LLP and True Potential Adviser Services LLP, claims to be one of fastest-growing financial services organisations in the UK.
The True Potential V6 single integrated platform brings together the three core elements of True Potential – the back-office system, the wealth platform and client servicing tools, such as the firm's client websites.