Wednesday, 23 July 2014 09:43
More than potential – finance tech firm reports 104% profit rise
The True Potential Group has reported a 104% increase in pre-tax profits compared to the first half of 2013.
The £4.9m profit from January to June 2014 was backed up by turnover increasing to £20.8m, a rise of 87% against the same period last year.
Neil Johnson, senior partner at True Potential, said the strong results can be attributed to the firm's focus on providing technology that makes saving and investing simple and effective for clients.
He said: "True Potential provides leading-edge technology to deliver a more modern wealth management experience and it is clear from our financial results that this is well suited to today's advisers and their clients."
The company estimates it provides technology and business support services to over 22 per cent of the UK adviser market and financial advisory services for private individuals.
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Mr Johnson said: "The UK is facing a savings crisis where people are not saving the amount they need for a comfortable retirement. Our focus is to continue to make saving and investing simpler and more accessible through the use of technology. We believe these results have given us an outstanding platform for growth in 2014 and beyond."
The company highlighted the launch of its impulseSave® technology as an important innovation in 2014. This allows savers to make micro-payments into investments from as little as £1 at the touch of a button.
It has recently made a number of senior appointments including Laurie Edmans CBE as non-executive director, Sheriden Davy as head of risk and compliance, Colin Beveridge as chief investment officer and Emma Napier as head of distribution.
The True Potential group of companies comprises True Potential Investments LLP, True Potential Wealth Management LLP, True Potential Associate Partners and True Potential Adviser Services LLP.
The £4.9m profit from January to June 2014 was backed up by turnover increasing to £20.8m, a rise of 87% against the same period last year.
Neil Johnson, senior partner at True Potential, said the strong results can be attributed to the firm's focus on providing technology that makes saving and investing simple and effective for clients.
He said: "True Potential provides leading-edge technology to deliver a more modern wealth management experience and it is clear from our financial results that this is well suited to today's advisers and their clients."
The company estimates it provides technology and business support services to over 22 per cent of the UK adviser market and financial advisory services for private individuals.
{desktop}{/desktop}{mobile}{/mobile}
Mr Johnson said: "The UK is facing a savings crisis where people are not saving the amount they need for a comfortable retirement. Our focus is to continue to make saving and investing simpler and more accessible through the use of technology. We believe these results have given us an outstanding platform for growth in 2014 and beyond."
The company highlighted the launch of its impulseSave® technology as an important innovation in 2014. This allows savers to make micro-payments into investments from as little as £1 at the touch of a button.
It has recently made a number of senior appointments including Laurie Edmans CBE as non-executive director, Sheriden Davy as head of risk and compliance, Colin Beveridge as chief investment officer and Emma Napier as head of distribution.
The True Potential group of companies comprises True Potential Investments LLP, True Potential Wealth Management LLP, True Potential Associate Partners and True Potential Adviser Services LLP.
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