True Potential adds 58 new recruits as growth continues
Newcastle upon Tyne-based financial and technology services company, True Potential, has grown its team with 58 new hires joining the firm during the coronavirus lockdown.
The expansion of its head office team comes on the back of continued strong financial performance in the second half of 2020
Despite the UK being in lockdown and True Potential employees operating remotely, the firm recorded a GBP15.7 million profit between April and June at the height of the coronavirus crisis.
The strong results meant True Potential was able to keep all 300 employees in full employment and nobody was furloughed.
The new recruits, who have joined the team between April and September, will fulfil various roles within True Potential‘s head office, including customer support, technical support, IT software development, compliance and marketing.
The growth in staff numbers follows an outstanding 2019 for True Potential. Last year turnover increased by 20 per cent to GBP144.9m and profit increased 36 per cent to GBP48 million.
So far in 2020, the firm has added more than GBP3 billion of assets to its investment platform. Compared to the same period in 2019, sales have increased 58 per cent and profit has grown by 39 per cent in Q2 2020.
Chief Executive Daniel Harrison says: “There is no doubt that 2020 has been one of the most challenging years in business that anyone can remember but I’m delighted with how we have responded. Our employees made the seamless transition to remote working. In fact we have been able to improve some of our systems, streamline operations and develop new ideas all while working remotely.
“That has enabled us to continue our growth and ultimately puts us in a position where we have needed to add to our team. I’m incredibly proud that amid a lot of business disruption, True Potential has continued to grow and September was our best ever month for sales on record. With the help of our 58 new colleagues, I’m confident our success will continue through the remainder of 2020 and I look forward to an even better 2021.”
Through its army of over 4,000 financial advisers across the UK, True Potential supplied more than 14,000 food parcels directly to vulnerable people during lockdown.
Meanwhile its monthly staff fundraising activities have raised more than GBP200,000 since lockdown in March, to support hospices, charities and community groups helping most vulnerable through the effects of Covid-19.