True Potential is a British wealth management and financial technology company based in Newcastle, England.[1][2] The company provides investments to clients across the UK,[3] both to financial advisers and their clients.[3][4][5]
| Founded | 2007 |
|---|---|
| Headquarters | Newcastle-upon-Tyne, England, UK |
Key people |
|
| Products | ISA, personal pension, general investment accounts |
| Revenue | £337.9 million (2023) |
| Total assets | £24.5 billion |
Number of employees | 450 |
| Website | www |
History
editTrue Potential was founded in 2007 by Chairman Sir David Harrison and his investment partners.[6] Prior to founding True Potential, Harrison had founded the financial services firm Positive Solutions, which he sold to Aegon in 2003.[6]
From 2012 to 2017, True Potential was included on the Deloitte Technology Fast 50 list of fastest growing technology companies in the UK.[7][8] In 2017, True Potential also won Business of the Year at the European Business Awards.[9]
In 2018, True Potential appointed bankers from Perella Weinberg Partners to facilitate a sale of the company.[10]
A majority stake in True Potential was acquired by global private equity firm Cinven in 2022.[3][11][12] Other firms that made a bid for True Potential included Pegasus Europe.[13]
In February 2023, True Potential appointed Ben Thorpe as Chief Financial Officer.[14] In April 2023, True Potential appointed Andrew Sibbald as Deputy Chairperson.[15]
True Potential engages in philanthropic initiatives through the Harrison Foundation.[16][17] The company also has a partnership with the Open University, the True Potential Centre for the Public Understanding of Finance, which delivers free courses to better learners’ understanding of personal finance.[18]
The services offered by True Potential include investment management,[4] financial planning,[19] and retirement planning.[20]
In October 2024, Daniel Harrison has announced his resignation as CEO of True Potential, effective October 11, after seven years in the role, with a new CEO expected to be appointed by early 2025.
Reference
edit- ^ Banking, Ben Martin (2023-11-06). "True Potential could be realised by early stake sale". The Times. ISSN 0140-0460. Retrieved 2023-11-06.
- ^ Media, Insider (2023-04-03). "Another year of growth for True Potential". Insider Media Ltd. Retrieved 2023-11-06.
- ^ a b c Vallely, Lois (2022-02-08). "True Potential completes sale of stake to private equity firm Cinven". Money Marketing. Retrieved 2023-11-06.
- ^ a b Ford, Coreena (2023-04-03). "Newcastle's True Potential hails record results as assets top £24bn". Business Live. Retrieved 2023-11-07.
- ^ Whitfield, Graeme (2016-11-18). "Newcastle technology firm True Potential makes UK growth list for three years running". Chronicle Live. Retrieved 2023-11-07.
- ^ a b "The millionaire boss who admits he had a lot of luck". BBC News. 2017-07-16. Retrieved 2023-11-06.
- ^ Manning, Jonathon (2017-06-11). "He runs Europe's best business: can David Harrison really be that nice?". Chronicle Live. Retrieved 2023-11-06.
- ^ Whitfield, Graeme (2016-11-18). "Newcastle technology firm True Potential makes UK growth list for three years running". Chronicle Live. Retrieved 2023-11-06.
- ^ Whitfield, Graeme (2017-05-05). "Newcastle company True Potential wins European Business Award". Chronicle Live. Retrieved 2023-11-06.
- ^ "Wealth platform to realise True Potential with £2bn sale". Sky News. Retrieved 2023-11-06.
- ^ English, Simon (2021-09-08). "Cinven snaps up True Potential in £2.5 billion deal". Evening Standard. Retrieved 2023-11-06.
- ^ Crowley, Amy-Jo; Cerqueiro, Pablo Mayo; Cerqueiro, Pablo Mayo (2023-07-12). "Cinven eyes True Potential stake sale as soon as next year". Reuters. Retrieved 2023-11-06.
- ^ "Mustier and Arnault's SPAC targets £2.5bn UK fintech True Potential". Sky News. Retrieved 2023-11-06.
- ^ "True Potential appoints Ben Thorpe as CFO". www.ftadviser.com. Retrieved 2024-03-13.
- ^ "True Potential appoints deputy chairperson". ftadviser.com. Retrieved 2024-03-13.
- ^ "Education and employability training centre opens in Teesside". The Northern Echo. 2022-12-06. Retrieved 2023-11-06.
- ^ "Read: A virtuous circle where productivity and profit drive social purpose". Fit for Purpose. Retrieved 2023-11-06.
- ^ Whitfield, Graeme (2020-05-14). "Record results and buy-back as True Potential continues growth". Business Live. Retrieved 2023-11-06.
- ^ Read, Simon. "True Potential founder David Harrison knighted". www.financialplanningtoday.co.uk. Retrieved 2024-03-13.
- ^ "True Potential launches retirement planning system". ftadviser.com. Retrieved 2024-03-13.