Our Impact - Today, Tomorrow & Beyond.

Date last reviewed: October 11th, 2024

Our mission.

True Potential has a clear mission: to help people across the UK do more with their money by providing expert financial advice (True Potential Wealth Management), innovative investments (True Potential Investments), dedicated support, and award-winning technology.

However, our industry has seen an alarming rise in the number of clients who are unable to access expert financial advice through a regulated and qualified financial adviser.

We call this the Advice Gap.

The Advice Gap.

With around 40% of financial advisers projected to retire in the next five years and very few new entrants to the industry to replace them, we believe the UK’s advice gap is set to widen.

This could leave over 1.8 million clients without access to financial advice and without the expertise needed to reach their long-term financial goals.

Without professional advice, clients are less likely to make informed decisions, potentially leading to poorer investment performance and financial management. It also increases the risk of being targeted by scammers and bad actors, by removing a layer of protection for clients.

A reduction in the number of financial advisers could also mean that people with fewer assets will find it even more difficult to find an adviser, opening the door further to unregulated financial advice on social media and risky financial products like cryptocurrencies.

The advice gap presents a true challenge for the UK as it affects the financial stability and wellbeing of millions of citizens.

At True Potential, we believe we have the answer – one we have been worked towards since launching back in 2007. Our unique model aims to provide solutions to clients and financial advisers – Today, Tomorrow and Beyond.

Today.

A leading service, backed by award-winning technology.

Clients.

We look after over 523,000 clients and £30 billion of assets on their behalf, providing products, technology and servicing that we believe is unmatched in the industry. Our clients tend to agree – we have an ‘Excellent’ 5-star rating with independent site Trustpilot.

Over 165,000 of these clients receive financial advice from True Potential Wealth Management, with over 70,000 of those sitting within our Central Advice service – where we can provide 24/7 access to their investments and a meeting with an adviser whenever needed by video call.

Financial advisers.

With over 1,200 financial advisers within True Potential Wealth Management, we are one of the largest financial advice firms in the UK and continuing to grow.

Our advisers benefit from our in-house technology, which enables them to focus on providing expert financial advice to their clients by making servicing and administration incredibly efficient. Through features such as impulseSave and our online Suitability Reviews, alongside seamless integration with our back office and True Potential Platform, our advisers provide the very best the industry has to offer.

Tomorrow.

Planning for the future for clients and financial advisers.

Clients.

For our clients, we know that their financial journey doesn’t end on the day they reach their goal. For a client retiring at age 65, they’ll still benefit from qualified financial advice as they withdraw from their investments. Expert advice can help ensure a client makes withdrawals that are tax efficient and draws on their investments at a sustainable rate for the rest of their lives.

As clients transition into the decumulation phase of their investments, our service adapts with them. Through our blend of personal advice and technology, we already help over 70,000 clients manage their Pensions effectively in retirement – with thousands more set to join them in the next few years.

Financial advisers.

With 15,000 financial advisers retiring in the next five years, it’s essential that they plan ahead now to ensure their clients don’t become orphaned as their careers draw to a close. Our industry needs a way to provide these clients with the financial advice they need for years to come.

We offer an in-house retirement solution that recognises and values the work our Wealth Management Partners have done over many decades to support clients. Unlike others, our programme doesn’t rely on finding another local financial adviser. Our Partners’ clients can make the choice to transition into our Central Advice service, which will provide the same products, technology, support and standard of advice remotely – from our Head Office in Newcastle upon Tyne.

Beyond.

Helping the next generation reach their true potential.

Clients.

Our Beneficiary Service helps our clients pass their wealth to the next generation, providing more opportunities to clients who may not yet have had the need to work with a financial adviser.

Clients can provide their beneficiaries with a personal account, which introduces them to our service and prepares them for the decisions they may need to make in the future. This aims to preserve client’s money as it transfers to their heirs, ensuring it continues to benefit from qualified financial advice at every stage.

Financial advisers.

With just 6% of financial advisers under the age of 30 in 2022, it’s clear there’s a genuine challenge in attracting new talent to the sector. Without a steady flow of future financial advisers studying for their exams and qualifying each year, closing the advice gap will remain an issue for decades to come.

We’re investing in finding a solution to this issue through our True Potential Academy, which takes in potential financial advisers from a range of backgrounds and disciplines in conjunction with our Social Mobility Pledge.

“This isn’t just about numbers. It’s about the financial wellbeing of millions of people across the UK.”

“The advice gap is a ticking time bomb that we have known about for years but it is now well within sight. We have ageing financial adviser and client populations, so the danger is that as clients approach retirement and need a lot of advice around their options, they may find their financial adviser has already retired. By offering a home to advisers in the twilight of their careers, we are ensuring their clients can access professional advice well into the future. We’re also training a new generation of qualified financial planners so that we don’t just stop the advice gap growing, but we can begin to close it.”

Daniel Harrison, Co-Founder & Former Chief Executive.

With investing your capital is at risk. Investments can fluctuate in value and you could get back less than you invest.

True Potential LLP is registered in England & Wales as a Limited Liability Partnership No. OC380771.

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Our Impact - Today, Tomorrow & Beyond.

Our mission.

The Advice Gap.

Today.

Clients.

Financial advisers.

Tomorrow.

Clients.

Financial advisers.

Beyond.

Clients.

Financial advisers.

“This isn’t just about numbers. It’s about the financial wellbeing of millions of people across the UK.”