True Potential
British finance company
From Wikipedia, the free encyclopedia
True Potential is a British wealth management and financial technology company based in Newcastle, England.[1][2] The company provides investments to clients across the UK,[3] both to financial advisers and their clients.[3][4][5]
| Founded | 2007 |
|---|---|
| Founders | David Harrison, Daniel Harrison, Mark Harrison, Earl Glasgow |
| Headquarters | , |
Key people | Sir David Harrison (Chairman and Founder), Daniel Harrison (CEO and Co-Founder) |
| Products | Individual savings accounts (ISAs), personal pension, general investment accounts |
| Revenue | £337.9 million (2023) |
| AUM | £24.5 billion (2023) |
Number of employees | 450 (2023) |
| Website | www |
History
True Potential was founded in 2007 by Chairman Sir David Harrison and his investment partners.[6] Prior to founding True Potential, Harrison had founded the financial services firm Positive Solutions, which he sold to Aegon in 2003.[6]
From 2012 to 2017, True Potential was included on the Deloitte Technology Fast 50 list of fastest growing technology companies in the UK.[7][8] In 2017, True Potential also won Business of the Year at the European Business Awards.[9]
In 2018, True Potential appointed bankers from Perella Weinberg Partners to facilitate a sale of the company.[10]
A majority stake in True Potential was acquired by global private equity firm Cinven in 2022.[3][11][12] Other firms that made a bid for True Potential included Pegasus Europe.[13]
In February 2023, True Potential appointed Ben Thorpe as Chief Financial Officer.[14] In April 2023, True Potential appointed Andrew Sibbald as deputy chairperson.[15]
True Potential engages in philanthropic initiatives through the Harrison Foundation.[16][17] The company also has a partnership with the Open University, the True Potential Centre for the Public Understanding of Finance, which delivers free courses to better learners’ understanding of personal finance.[18]
The services offered by True Potential include investment management,[4] financial planning,[19] and retirement planning.[20]
In October 2024, Daniel Harrison has announced his resignation as CEO of True Potential, effective October 11, after seven years in the role, with a new CEO expected to be appointed by early 2025.