Financial services firm True Potential has reported a profit before tax of £4.9 million for the first half of 2014, a surge of 104% compared to previous year.
The group’s turnover was £20.8 million, a significant rise of 87% compared to the same period of 2013.
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True Potential said that it currently offers technology and business support services to over 22% of the UK adviser market and financial advisory services for private individuals.
In 2014, True Potential launched a new impulseSave technology for wealth platform clients, which allows savers to make top-ups of just £1 in to their investments.
Additionally, the firm has also expanded its wealth platform this year with a no-fee pension, income strategy funds from Threadneedle and a True Potential income strategy fund from Goldman Sachs Asset Management.
Neil Johnson, senior partner at True Potential, said that the strong results can be attributed to the firm’s focus on providing technology that makes saving and investing simple and effective for clients.
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By GlobalData"Our focus is to continue to make saving and investing simpler and more accessible through the use of technology. We believe these results have given us an outstanding platform for growth in 2014 and beyond," he added.
