True Potential launches new distribution arm
Technology and financial services firm True Potential has launched a new distribution arm, True Potential Associate Partners.
Advisers within the firm will benefit from True Potential’s technology driven approach to offering financial advice, while retaining the value of their current brand.
The addition of True Potential Associate Partners complements the group’s distribution channels, that include its adviser firm True Potential Wealth Management and True Potential Adviser Services that provides support services to 22 per cent of directly authorised firms in the UK.
Paul Bond, director at True Potential Associate Partners, says the new offering means the group has “all bases covered” and adviser firms currently working in outdated network models, as well as directly authorised firms, can benefit from the company’s modern way of working.
Earl Glasgow, managing partner at True Potential Wealth Management, says: “True Potential Wealth Management has increased the number of wealth partners by 300 per cent in the last 12 months, making substantial profits for the business. We believe this success can be attributed to our innovative way of working, using technology to improve the client experience, increase transparency and simplify investing and saving.
“The introduction of RDR, combined with trends in society and technology, have made the old network and national models unprofitable and quite frankly unworkable. True Potential Associate Partners offers a modern alternative.
“True Potential has been talking for some time about how technology is changing the way clients interact with their advisers. Clients are looking for more direct engagement across multimedia channels and more flexible ways to manage their money. Businesses that don’t adapt their model to meet the changing needs of consumers will be left behind.”
Advisers that join the firm will benefit from the Single Integrated Wealth Platform (V6) that brings together all three elements of True Potential: the back office platform, the True Potential Wealth Platform and its exclusive strategy funds, as well as a range of client servicing tools.
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