True Potential is offering shares for sales to advisers
True Potential will offer advisers shares depending on the amount of assets placed on its Wealth Platform by February 2013, with a 50 per cent uplift on assets placed by March 20, 2012.
Firms previously received a standard 10,000 units for joining TP while the firm decided how best to structure its share scheme. The deal will be back-dated to take account of any assets placed on the platform since it launched in March 2011.
The number of shares received before the uplift ranges from 100,000 for £1.2m and above to 10 million for investments of £15m or above.
Those investing £16m get 10 million units plus an increment of one million units per £1m of additional assets.
The offer note to advisers states: “Nobody knows what value these units will hold, if any. It may be that we never reach a point where there is sufficient interest in us either as a trade purchase or as a public offering, in which case our value will simply be our profitability.”
The note highlights the sale of Positive Solutions to Aegon raised £136m for 800 adviser shareholders, with the top adviser earning £1.3m.
TP says it has yet to make a final decision on whether to promote the platform to the wider adviser market or keep the use of the platform to TP members and its deal with Positive Solutions.