True Potential 'plotting potential £2bn sale'

'Inevitable there would be interest'

Tom Ellis
clock • 1 min read

True Potential has appointed bankers from Perella Weinberg Partners to assess offers from potential buyers, according to reports.

Sky News has said the Newcastle-based firm, which was set up in 2007 and is owned by 739 individual partners, could be valued at close to £2bn. The IFA and fintech business reported profits of £24m last year and has more than £52bn of assets under administration. Founder David Harrison runs the vertically integrated firm, which serves more than one million clients and claims to work with more than 20% of the UK's financial advisers. True Potential ends SEI link-up to go in-house for platform tech A True Potential spokesperson told Sky News: "2017 was an exceptionally strong year fo...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Companies

The existential threat at the heart of Britain's biggest wealth manager

The existential threat at the heart of Britain's biggest wealth manager

Fees made St James's Place rich but now risk toppling the firm

Chris Newlands
clock 16 May 2024 • 10 min read
Macclesfield IFA declared failed for pension transfer advice

Macclesfield IFA declared failed for pension transfer advice

FSCS has so far had one claim against Chestergate Financial Services

Isabel Baxter
clock 15 May 2024 • 1 min read
Three firms merge to form an advice business lifecycle agency

Three firms merge to form an advice business lifecycle agency

The Exit Partnership, Change Squared and AspireExec form ‘Melo’

Isabel Baxter
clock 15 May 2024 • 2 min read