Long-term saving for retirement

long-termWith the changes to the way pensions can be accessed coming into force from April 2015, now is a great time to take stock of your pension savings plan.

From April next year, you’ll have more freedom over the way you withdraw from your pension pot. Instead of being forced to buy an annuity, which provides a guaranteed income for the rest of your life, you’ll be able to withdraw as much or as little as you like.

In effect, you’ll be faced with three options when you reach retirement age:

  1. Withdraw all of your pension pot
  2. Leave the pot invested and withdraw funds as you need them
  3. Buy an annuity

Whichever choice you make, you’ll need to be aware of the complex tax rules and regulations around pension drawdown. Depending on your circumstances and what you need to live comfortably in retirement, you may find one option suits you best. Your financial adviser will be able to help you make the decision that’s right for you.

However near or far you are from retirement age, you’ll want to have enough money in your pension pot to provide you with the lifestyle you deserve after your working life is over. Thankfully, it’s never too soon – or too late – to make the most of pension saving.

The key challenges when saving over the long-term are to protect the value of your money from erosion by inflation, to grow your capital and to hold your nerve when the markets fluctuate.

Think about inflation

Inflation has the power to reduce the real-terms value of your money over time. For example, if the inflation rate is 2%, £1,000 held in cash would be worth only £980 after one year.

Currently the rate of inflation in the UK is 1.2%, down from 1.5% in August. This is a substantial decrease to the yearly high of 1.9% in June of this year.

The benefits of compound interest

When you’re saving for a long-term goal such as retirement, you can take advantage of compound interest. This is the process where the return you earn on your initial investment continues to grow as future returns are calculated on both your initial investment and any returns made since then.

With compound interest, your money has the potential to grow at an increasing rate. This means that, the earlier you start to save, the greater potential for higher returns you will have in later years.

Market fluctuation

Investing in a pension means that your capital and returns are linked to market performance. You are likely to find the value of your pension fluctuates over time. While the value may rise, it can also fall.

The challenge is to keep your money invested for the long-term. In times when the market is performing poorly, investors who withdraw their funds don’t get the benefits when the market recovers – it can pay to stay in the market.

If you do find yourself falling behind your goal or simply want to take advantage of buying opportunities when markets are low, you can use impulseSave® to top-up your savings from just £1 whenever and wherever you like online via your client site or through our range of mobile apps.

All of these challenges will influence the way you plan for your retirement. When you’re calculating the amount you will need to live comfortably, make sure you factor in both the rate of inflation and the benefits of compound interest. As you’re following your plan, stay focused on the long-term goal and you’ll give yourself the best chance of rising out any downturn in the market.

If you need to create a new retirement plan or want to review your existing plan in light of the April 2015 changes, contact your financial adviser by secure message through your client site.

Login to your client site 

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The age of mobile savers

Screenshot 2014-10-24 08.22.39Recent research from the British Bankers Association (BBA) supports the prominence of mobile and online banking, with tech-savvy Britons making almost £1 billion worth of online banking and mobile transactions each day. More than three in four people are using online banking at least once a month and one in ten log into an internet banking service each day.

You have the technology

At True Potential, we know that technology has the power to completely change the industry by getting people engaged with their finances. There is no question that online is the place where many Britons choose to manage their finances and providing the tools to do so in a simple and effective way is vital.

That’s why we empower you to take control of your money. Through your personal client site and our mobile apps, we give you 24/7, real-time access to your account information and allow you to track your progress against your goals whenever and wherever you choose. You can also link bank accounts and any assets held elsewhere to get a complete view of your net worth, all in one location.

Included as part of our service is impulseSave®, our first-of-its-kind technology that allows you to add to your investments at the touch of a button. You can invest with as little as £1 at anytime and from anywhere in the world. Rather than spending on impulse, you can now save on impulse and get one click closer to your goals.

We are already seeing a surge in popularity for our mobile technology – as of this month, close to 20,000 iOS and Android apps have been downloaded and this continues to grow daily.

As an industry, we need to continue to look for ways to make saving and investing part of everyday life. Why does an investment purchase need to be any different than any other purchase you may wish to make on your smart phone or tablet? We don’t believe it should.

With True Potential’s award-winning technology powering your financial planning, you have the potential to reach your savings goals faster than you imagine. To make sure you’re getting the most from our technology, contact your True Potential Partner by secure message through your client site today.

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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)


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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



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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


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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
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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.

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