Daniel Harrison, chief executive of recently-acquired Financial Planning and wealth management firm True Potential, has warned owners of Financial Planning firms to beware of over-generous offers for their businesses.

Private equity firm Cinven is to acquire one of the UK’s largest financial advisory firms, wealth manager True Potential.

Sky News is reporting that private equity firm Cinven is close to sealing a deal to buy North East-based wealth manager and Financial Planner True Potential.

Wealth manager and platform True Potential has reported group turnover up 28% to £184.9m and group profit up 59% to £74m in its 2020 results.