True PotentialMay 15 2017

True Potential profits up during 2016

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True Potential profits up during 2016

Profits at True Potential were up by 21 per cent during 2016, reaching £15m.

Across all its channels, the Newcastle-based firm has more than £52bn of assets under administration.

True Potential saw its annual turnover reach £69m during 2016 – up 23 per cent on the previous year.

David Harrison, managing partner at True Potential, said: “In 2016 we had some notable market-moving events, including Brexit and the election of Donald Trump.

“As an investment and financial advice business, to end that year with turnover up by a quarter and profits up by a fifth is a remarkable achievement and shows the strength of our offer to consumers.

“Our aim is to give people in the UK the best chance of growing their savings and investments in an era of record low interest rates that are easily outstripped by rising inflation.

“We are doing that by offering high quality financial advice and investment funds that are designed to perform in unpredictable conditions.

“Then our unique technology gives clients instant access to their wealth and the ability to make instant micro-top ups so that they stay on track to reach their goal.”

All but one of True Potential’s portfolios have seen double digit growth in the 12 months between 1 April 2016 and 31 March 2017.

Its Aggressive portfolio returned 21.79 per cent while its Growth portfolio grew by 19.74 per cent and its Balanced portfolio grew by 16.49 per cent.

The only portfolio not to grow by double digits was the Defensive one, which grew by 7.67 per cent.

damian.fantato@ft.com