IFA support services provider True Potential will launch its wrap platform on March 21.
In December, Money Marketing revealed that the company had been developing a platform for 12 months, funded from business profits and private investment by partners and senior partners.
The new SEI-powered pro- position will be available to True Potential’s 3,500 members until April 6, when it will be rolled out to all advisers.
True Potential partner Daniel Harrison says: “There is a lot of outdated technology around and we are making sure that we have a really innovative wrap that advisers can recommend to their clients.”
Yellowtail Financial Planning director Dennis Hall says: “I am sure True Potential will have something that works very well for it and its members but I doubt it will be the same kind of product as Transact or Raymond James offer.”
Forty Two Wealth Management partner Alan Dick says: “Obviously, True Potential has got a captive market in its members but if it wants to compete in the open market, then Transact is the benchmark and it sets the bar pretty high.”