True Potential has said it is working on the first investment platform in the UK to use blockchain technology.
The use of blockchain will allow its new platform to be faster, more accurate and to get more value for its clients.
Earlier this month True Potential ended its link with SEI to opt for in-house technology as it aimed to rebuild a platform under its own full ownership and control.
David Harrison, True Potential's managing partner, said: "During 2018 we will replace our current investment platform with a brand-new version, built totally in-house and incorporating blockchain technology.
"This will give us total control over trading, technology, reporting and of course costs. We will also be the first investment platform in the UK to be using blockchain at its heart, at first to audit our own systems, but increasingly to interact with others to produce greater clarity and certainty in both the supply chain and our own customer value chain."
The first version of the platform will aim to replicate the existing one but once this is done the company said it will gradually start to add new functions and services.
One of the biggest benefits of using blockchain will be the faster trading, transfers and movement of cash, Mr Harrison said.
True Potential has also published its annual results, which showed turnover increasing to £99m for 2017, from £69m for the previous year.
The company’s profits also rose by 61 per cent from £15m to £24m during 2017.
Meanwhile assets on True Potential's investment platform rose by 40 per cent and now stand at almost £7bn.
The True Potential Portfolios have more than £4bn invested in them with growth returns in the aggressive portfolio of more than 41 per cent since they were launched in October 2015.
damian.fantato@ft.com
