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True Potential profits surge to £10.5m

True Potential has nearly doubled pre-tax profits year-on-year, from £5.3m in 2013 to £10.5m last year, as turnover surged past £40m.

The firm’s annual results, published today, reveal turnover increasingly from £27.5m to £44.4m during the year. Cost of sales rose from £14.5m to £25.3m, while administrative expenses were up from £7.7m to £8.5m.

The company says it now employs more than 440 advisers, compared with 417 in 2013.

True Potential says its investment arm, True Potential Investments, saw profits rise from £3.7m to £6.8m. Assets on the group’s platform increased by £1bn to over £3bn during the 12 month period.

True Potential chairman David Harrison says: “2014 was an excellent year for
 the group. Our turnover grew significantly from £27.5m to £44.4m but importantly, profits have dramatically increased from £5.3m to £10.5m. This is a direct result of our business model and strategy of building large-scale distribution capacity with the goal of helping True Potential gather assets on our own wealth platform.”

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. Well done David and the True Potential team… great result given that many others run their business in deficit…

  2. Well deserved, we have used TP’s office systems and platform for years and it just leaves the rest behind by a country mile.

    My clients love the fact they can use their Iphone. Ipad or just log in to value their investments, add funds at a kick of a button to their investments and see all there documents.
    The big plus for us is they can update their own fact finds as well before update meetings.

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