True Potential LLP today announced its 2012 financial results. The figures reveal a £3.6 million pre-tax profit, an increase of 57 per cent compared to 2011.
The True Potential Group of Companies, which includes True Potential Investments LLP, True Potential Wealth Management LLP and True Potential Adviser Services LLP, is one of the fastest growing financial services organisations in the UK.
Along with their award-winning systems, including the True Potential Wealth Platform, the Group offers investment solutions and business support services to UK advisers as well as financial advice to private clients through their advice firm, True Potential Wealth Management.
Since it was established in 2011, True Potential’s Wealth Platform has experienced strong growth, increasing pre-tax profit from £3,520 to £0.6million.
Neil Johnson, Senior Partner at True Potential LLP, said: “Our Investment and Wealth Management businesses have been our main growth areas in 2012. We are focused on developing innovative ways of enabling IFAs to provide the best advice and service they can to their clients.
“Seeing our pre-tax profits rise by 57 per cent is especially pleasing in the current economic climate and it shows that the right business plan and an extremely talented team can achieve outstanding results. In an industry which has had to adapt to major regulatory changes, including the Retail Distribution Review, such solid growth puts us in a very strong position for 2013.”
True Potential has 109 partners and employees and staff levels increased by 45 per cent by the end of 2012.
True Potential, which recently moved to a new state of the art building in Newcastle upon Tyne and has offices in London, works with over 22 per cent of UK advisers and their clients, representing more than £220 million of turnover.