A few sound bites from a few True Potential advisers

  1. Listen → Mark (ex Directly Authorised) 22 years in the industry explains why he joined True Potential in Oct 2013 http://t.co/khylNovB6I
  2. Listen → Martin O’Brien new partner of True Potential explains the unique benefits of offering client facing websites http://t.co/SPNJTlB1w1
  3. Listen → Julian Friel Doing ISAs the Simple way with True Potential http://t.co/8ekxpgHa6L
  4. Listen → David Williams True Potential Partner explains “Why Strategies” & the True Potential Strategy Partners http://t.co/davtjWscq0
  5. Listen → Jon Willis  – True Potential New Joiner from Nationwide http://bit.ly/1vcqISX (<2 mins)
Watch → True Potential in action http://t.co/BzN438oE  (5 Mins)



Financial advice is after all about planning; maybe we should all be called financial planners. Your interaction with the client is what sets you apart from other methods of distribution, and that interaction is based on trust. So it is vital that you make the most of that interaction and don’t begin to act like a comparison website.

A plan has to have objectives, let’s call it a ‘Goal’. Agreeing and getting the client to describe in detail their most important Goal is for my money the greatest service you can provide. Computers find it hard to have that sort of interaction, even when clients increasingly trust them. Computers find it easy to compare things such as price and features. Thus computers, or people on phones emulating a computer transact almost 100% of car insurance.

The trend we have observed has been away from Goal setting, towards comparing and switching, which is the wrong outcome for the client and financial advisers wanting to have a valuable future. The primary need in the market is for Goal setting, i.e. putting together a financial plan that they will work together over a number of years to achieve, not just comparing existing assets.

Setting a Goal is key because in almost every case, the current assets available, growing at standard capital market rates, will not be enough. So pretty pointless just switching in that case – the Goal will still be missed. In lots of scenarios that’s exactly what has happened. The adviser does not extract a Goal from the client, simply tries to show that by switching one platform to the other the client will be better off.

We all know that no-one knows whether the client will be better off for certain, we are simply trading one discrete set of charges against another. The new funds may underperform, the new platform may increase charges, the product wrapper (and provider) may become extinct. It also leads the client into a false hope scenario, they may think everything is OK.

But, as we can see from every single bit of data, the savings gap (the gap between what they have and what they need to retire) has been growing (accounting for recessions also) and now we are seeing the beginning of an advice gap.

The antidote to that scenario and the answer to easy compliance is ensuring that the client is making any change (a switch, or even an agreement to pay more whenever they can) with the purpose of hitting their Goal.

Therefore what True Potential has been doing since the start of our Platform, is providing the tools and funds to support Goal-based investing.

The software will quantify shortfalls, will build in inflation and will provide a graphic, daily reminder to you and your clients as to how they are doing. The gap between the line towards a Goal, and the current value of the investment being employed to hit that goal is obvious. Closing that gap is all that is required.

Our belief is that clients (and us) get into debt on impulse. We see something, and in most cases we decide to buy it, have it, there and then. We get instant gratification, with an instant increase in debt.

ImpulseSave® is designed to not only make it as easy (in terms of physical effort) to put money into savings as into debt, but also to tie in with the Goals you have agreed with your clients.

Each client site has the ability to show their Goal, as long as you have set it. Please, please take the time to really examine how to do these things – the next time you meet any client, or any prospect, ensure you ask them about what they are saving for, what is the most important thing for them to achieve. Quantify it in today’s money, and then agree to use whatever resources available to reach that Goal.

ImpulseSave® will quantify the gap between the Goal and the investment and with one click the client can catch up, or at least put money that would have been used for fleeting pleasure (in London one coffee and a cake) and top up with £10 or an amount they feel is right. You can set up an agreement with them as to how much you will charge for that service.


We are confident that ImpulseSave® has the power to revolutionise the industry and your business and we are proud to be able to offer this to you, if you want to join us.

In this youtube clip I actually topped my own ISA up LIVE by £500 in 40 seconds! See for yourself.

Thank you



40 seconds to top up my ISA

40 seconds to top up my ISA! If you don’t think your clients will use/love this, think again!  
We had over £1,000,000 deposited in it’s first month. 
Oh & you get paid EVERY time they do. AND no paperwork nor compliance!
Through our award-winning technology, we allow you to add money to your existing True Potential Individual Savings Accounts (ISA’s) at the touch of a button – whenever and wherever you choose – with as little as £1, or as much as you need to close your ‘gap to goal’.

Here’s how it works:

Screenshot 2014-06-03 11.40.39


Thank you


Moody’s report on future online advice in the UK – Read this!

I just read this today and it mirrors everything that I have been saying about the way your clients will be buying and topping up their plans in the future. It will not stop, there is a crusade to get clients to invest more easily and not need to seek a financial adviser from the industry regulator and Product providers. If you doubt this then you are being naive. As you read this, the regulator is conducting another review on the way they can drive this along and it has to be the right way to go, it makes sense as the savings and retirement time bomb keeps increasing in the UK

Providers, Banks etc are building D2C platforms now to be in position to take advantage of the new age, I doubt they will pay an adviser for what could be seen as an execution only top up?

True Potential however have this model now and advisers are valued in the process and because we provide a Value Proposition that is un-parralled in the market you can justify the cost and get paid every time the client uses “impulse save”. In addition you have the full advice proposition as all other advisers can offer clients. So you will be positioned to capitalise on both models going forward with True Potential Wealth Management.

The article → http://www.ftadviser.com/2014/05/30/pensions/personal-pensions/moody-s-predicts-rise-in-online-full-advice-ImzRMSfUapiUwapmGiy3ZI/article.html

Ian McKenna: Has True Potential cracked investment micro payments? http://t.co/wiGrI176Vb

True Potential’s Answer → When it comes to saving, having a goal or a destination is an important first step.  http://t.co/G1JNlrvcrS

Thank you

True Potential – The Power of NOW

Here at True Potential (True Potential) we have a very different way of approaching the market, one which as you can see from our results seems to work better than anything else in the market.  RDR but importantly social and technology trends have made all the old network and national mass market IFA models unprofitable, this isn’t conjecture, it is simply a fact. All big organisations are now owned 100% by providers and none of them make a profit and all of them are either restricted or have to be in order to make strategic sense.

TP make good and growing profits, we have increased the number of wealth partners by 300% over the last 12 months, 100% of which have chosen to sell products off our own TP platform as opposed to pretending to be totally independent (and the only way to really do that is to charge a fee for research and recommendation only, the cost of which is for most people unaffordable, and for nearly all not requested or required).  We are therefore popular and growing strongly with high quality joiners most of which were in the top 10 of their previous organisations.

The facts are that the old models stopped working some time ago, and I guess that is the reason you reading this!?

We have an unique contract, unbeatable in terms of service offered and price charged, but it does require you to understand that the old days are gone, and a new way of working is needed to prosper fully in the future. Right now we are at a crossroads, dither and you will get hit by oncoming traffic, the fact that it hasn’t happened just yet, just means that every day that gets nearer.

The future requires giving the client what they want at a price they will be able to compare openly (using the internet) allied with real service, such as up to the minute information about their investments and all their financial accounts, when they want it, not when someone can get round to deliver it.

They need their own websites that they can access in the palm of their hands, 24/7. Only TP do that or can do it.  Imagine the power you could have with hundreds of clients, all getting the information they need, all able to top up their investments without you needing to be there, unless you choose to do so unbelievable service, with unbelievable brand loyalty.  Compare that with getting an update once a year. 

If you wish to join as Wealth Partner (RI), subject to normal quality criteria we’d be delighted to help.  If however you still want to or feel commercially you have to maintain a firm structure, then we have an Associate Partner contract  (AR) – you become an AP of TP.  This is an unique contract, please do not compare it with what you have right now, or what you think of as a network.  We are not about to make the errors that have created huge problems for distributors and clients alike.

Thank you for reading.

Listen to what Martin O’Brien who recently join True Potential Wealth Management has to say about client sites

I know I have spoken in depth about the True Potential system but if you want an easier life, sell the client site because that at least is Simple Effective and Unique. The last 7 years in this industry have been difficult to say the least for the majority of advisers but there is light at the end of the tunnel, with True Potential you will be able to see it now.

True Potential users/advisers/clients have at their fingertips the answer to this modern world. Open your eyes to it now and believe absolutely and the smile will return. Then it all happens again like it used to, the magic is in you, you are a salesperson not an accountant and that is nothing to be ashamed of.

  1. Listen to what Martin O’Brien (who recently join True Potential Wealth Management) has to say about us (less than 3 minutes long). listen to ‘Martin O’Brien & True Potential’ on Audioboo
  2. Watch True Potential in action http://t.co/BzN438oE

Have a great day & thank you


True Potential unveils another strong rise in annual profits with 2013 results

True Potential unveils another strong rise in annual profits with 2013 results

  • True Potential’s net profit for the year is £5.3m, up 47% from 2012
  • Turnover revealed as £27.5m, up 112% from previous year
  • Staff and assets all see major increases in 2013

    Technology and Financial Services firm True Potential has reported significant increases in turnover and profits with the publication of its latest financial results for the calendar year 2013.

    The True Potential Group of Companies, which includes True Potential Investments LLP, True Potential Wealth Management LLP and True Potential Adviser Services LLP, is one of the fastest- growing Technology and Financial Services organisations in the UK.

    The Group has revealed a turnover of £27.5m, an increase of 112% on the previous year, and net profit of £5.3m  47% up on 2012.

    During the year the firm also added over £1bn of new assets onto its Wealth Platform.

    In April 2013, True Potential rolled out version six (V6) of its integrated platform, which brought together the three core elements of True Potential – the back-office system, the Wealth Platform, and client servicing tools, such as the firm’s unique client websites.

    Neil Johnson, Senior Partner at True Potential LLP, said the continued success of the Group was due to this technology-based business model, which has offered advisers a way of working effectively, efficiently and in a fully-compliant way, post-RDR.

    He said: “Our Wealth Management and Investment businesses continued to be our main growth areas in 2013 and our success reflects the changing needs of a marketplace that was hugely shaken up by RDR.

    “The FCA wants to see well-organised firms with a clear value propositions for clients. Our technology offers a solution to advisers that enables them to achieve this whilst still working efficiently and profitably.

“The launch of V6 represented our biggest-ever system update and meant everything an adviser needed to do business could be accessed quickly, easily and from anywhere in the world, from one single online location.

“It underlined our commitment to developing innovative ways of enabling advisers to provide the best advice and service they can to their clients, and it has proven hugely popular – we now have 416 Wealth Management Partners, up by 255% on the 2012 figure, and this is increasing all the time. We’ve also added 30 new head office staff to meet the demands of our Partners and directly authorised client firms.”

In 2013, True Potential Investments welcomed the addition of new strategy funds on the Wealth Platform from Cazenove Capital, Allianz Global Investors and two new exclusive funds from Goldman Sachs, giving investors unrivalled access to some of the world’s best-known and top performing funds.

Johnson said True Potential Adviser Services had also performed strongly. “Although we have not actively recruited into this area in 2013, the firms have been performing very well, the number of firms working with us has remained constant and growing this area of the business is something that we are looking to prioritise in 2014.”

2013 also proved to be an award-winning year for the Group:

  • ‘Best Adviser Platform’ – 2013 Platforum Awards
  • ‘Best Support Service’ – 2013 Money Marketing Financial Services Awards
  • ‘Leading Integrated Planning Tool’ with Morningstar – Aberdeen UK Platform Awards 2013
  • Fast 500 – True Potential was also one of only 74 UK companies to appear in the Deloitte Technology Fast 500 EMEA 2013, a ranking of the 500 fastest-growing technology companies across Europe, the Middle East and Africa. The rankings are based on percentage revenue growth over five years and represent international recognition of the progress the firm has made.

The True Potential Centre for the Public Understanding of Finance (PUFin)

True Potential has partnered with the Open University to launch the True Potential Centre for the Public Understanding of Finance.

PUFin is a pioneering Centre of Excellence for research in the development of personal financial capabilities. PUFin is working to improve public understanding of personal finance through its research and the delivery of free modules providing individuals with the tools to make sound financial decisions.


Keeping advice within everyone’s reach

Comment from David Harrison, Managing Partner, True Potential LLP

Financial advice should not solely be the preserve of the rich. We are facing a devastating savings crisis in the UK and what’s needed more than ever is for as many people as possible to be able to access sensible, impartial financial advice.

Sadly, that did not seem to have been the view of our industry regulators, when they devised the Retail Distribution Review (RDR), the biggest shake-up of our industry for decades.

For those that haven’t been following, when the Financial Services Authority, replaced by the FCA in 2013, announced the RDR in 2006, the industry, including ourselves, predicted that it would lead to an advice gap – meaning some people would be priced out of financial advice by advisers who couldn’t justify the lower returns from smaller portfolios.

It seemed, though, that the regulator either wasn’t listening or didn’t care. Now, a year on from the RDR’s arrival in January 2013, it seems that the latter was the case.

Adair Turner, former head of the FSA, speaking in January 2014 at the New Model Adviser conference, confirmed what we had all suspected all along – that the regulator knew that the RDR would create collateral damage and that, in his opinion, mass-market financial advice is basically unfeasible.

With messages like that coming from the regulators, it’s no wonder we’ve seen so many potential clients turned away by advisers who don’t think they can get value from representing them. The latest estimate, by NMG Consulting, indicated that as many as 60,000 people were turned away by an adviser in 2013.

Authorities and regulatory bodies should, by and large, be there to act in the best interests of the majority of the population. But what we have is 60,000 people who have been left frustrated and disillusioned by an industry that should be opening its doors to more people, not retreating into its shell and only dealing with those from whom the most money can be made.

I’m uncomfortable with the notion of tens of thousands of people being turned away by advisers. It would be like Tesco introducing a minimum £150 spend-per-trolley, and refusing entry to anyone else who didn’t fit their business model.

My advice to savers and investors would be, don’t be put off seeking financial advice – and to advisers I would say don’t ignore the large portion of the market that is currently desperate for guidance.

I’m not suggesting any form of altruism here, because there are still business models available to advisers that allow them to work on a larger scale. Technology exists that helps people work with greater numbers of clients, and remain compliant, without lumbering themselves with unmanageable recording and reporting processes.

Keeping advice accessible to everyone should have been a priority of the FSA. Sadly, it wasn’t, but I really hope the industry can find ways to succeed in this regard despite the impact of the RDR.

Get off to a great start in 2014 by attending the first True Potential seminars of the year.

You are invitedThese events are designed to provide you with a first hand look at our business and demonstrate why we are one of the fastest growing advisory firms in the UK today. Along with outlining the features and benefits of our offer, we’ll give you our informed perspective on market opportunities, both current and future, as well as highlight all the ways that our technology and support services can help you maximise your personal success.

What to expect
The seminar will be a mix of informative briefings and live demonstrations.

Content will include:

  1. What True Potential has to offer
  2. The difference a Goal can make to your clients and your business
  3. Getting your clients in the habit of saving
  4. Latest updates from True Potential

Event Details.
Registration and refreshments: 9:30 – 10:00
Morning Session: 10:00 – 12:30
Lunch: 12:30 – 13:00
Afternoon Session: 13:00 – 14:30

We are holding these events throughout the UK.

Newcastle – 4th February

Southampton – 3rd February

Glasgow –  7th February

London – 4th February

Cardiff –  5th February

Manchester – 6th February

Warwick – 6th February 

Leeds –  12th February

Cambridge-  7th February

Bristol – 13th February

Although this event is designed for the True Potential Partner, it offers you an excellent opportunity to have see, feel & hear what we are all about!

If you would like to come along to our event, I do think it will be a good opportunity for you to take a look at True Potential, the direction we are going in and the great opportunities that our partners enjoy. There will be some excellent speakers & updates.

One of the key attractions to coming along to an event like this, is the ability to speak with existing True Potential advisers, it is the best way to find out about a company.

For more information on the event you would like to come to:-

Thank you

True Potential secures place in Deloitte Technology Fast 500 EMEA 2013

Screenshot 2013-12-09 09.29.24

We are very proud to announce that True Potential LLP is one of just 74 UK companies to appear in the Deloitte Technology Fast 500 EMEA 2013, a ranking of the 500 fastest-growing technology companies across Europe, the Middle East and Africa. Rankings are based on percentage revenue growth over five years.

 Our managing partner, David Harrison, credits the company’s 363 percent growth over the past five years to our commitment to innovation.

“We are delighted to be recognised amongst this elite group of companies. At True Potential our focus is to harness the power of technology to drive change and revolutionise the way wealth management is delivered to clients,” he said.

“In today’s market, advisers need to be armed with the most powerful, most user-friendly tools available to them.  And, that’s exactly what we deliver to 22 per cent of UK advisers and their clients.

“Advisers are choosing to use our award-winning integrated wealth platform as a way to simplify their business and deliver a differentiated service to clients. Through our client websites we enable advisers to show added value, which is essential in the current climate. We are committed to developing innovative ways that allow advisers to service clients more effectively than ever before, in a way that suits their lifestyle.”

David Halstead, Deloitte United Kingdom, partner in charge of the Deloitte Technology Fast 500 EMEA programme, said: “Making the Deloitte Technology Fast 500 is commendable in today’s highly competitive technology industry. We congratulate True Potential on being one of the 500 fastest growing technology companies in the region – the firm’s phenomenal growth puts it in select company and is a testament to a company’s commitment to technology.”

About Deloitte Technology Fast 500™ EMEA

The Deloitte Technology Fast 500 EMEA programme is the region’s most objective industry-ranking to focus on the technology field, recognizing technology companies that have achieved the fastest rates of revenue growth in Europe, the Middle East, and Africa (EMEA) during the past five years. Combining technological innovation, entrepreneurship and rapid growth, Fast 500 companies – large, small, public and private – span a variety of industry sectors, and are leaders in hardware, software, telecom, semiconductors, internet, media, life sciences and emerging areas, such as clean technology.

More information on the programme and prior year winners is available on www.deloitte.com/fast500emea


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