True Potential has launched a system allowing clients to consolidate their financial affairs and chart a retirement plan accounting for these in the run-up to April’s pension changes.
Daniel Harrison, senior partner at the firm, told the Outlook and Opportunities Forum 2015 in Manchester that putting different assets and vehicles in one place would help clients plan how to reach their financial goals.
He said: “It takes our vision of simple, goal-based wealth management further than anyone has gone before. It is completely at one with the trend towards flexibility, simplicity and a personalised approach to saving and investing.”
Clients will be able to manage multiple assets, such as pensions or Isas, in one online account and can use this to project their overall financial position for retirement.
They can also look at how different approaches to retirement – from taking a lump sum to drawdown – would affect their plan.
Mr Harrison added: “With April’s pension freedoms just weeks away, our own TPI Pension is one of the only pensions that can facilitate flexi access drawdowns with no restrictions and no minimum pension size.”
He said True Potential was looking to release the system from mid-April.
Meanwhile True Potential senior partner Mark Henderson has unveiled eight new wealth strategy funds which will be available on the company’s platform next week.
He said the funds, run by SEI, Schroders and Close Brothers Asset Management, would be introduced as part of a move to encourage greater risk-taking among clients.
He said: “We believe clients need to take risk in order to hit their long-term financial goals.”
Funds will be available to cover different investment approaches, from cautious to growth, and the investment committee overseeing them will include figures from True Potential Investment as well as outside experts.
Mr Henderson said: “It is important we do not rely on our own knowledge and it is important we have external experts.”
He also said that True Potential would be making further announcements of funds over the next two quarters, with plans to work with companies including Threadneedle, Allianz and Goldman Sachs.