True Potential sees profits jump 21%

True Potential has also reported a 23 per cent increase in revenue for 2016

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Advice firm True Potential’s profits grew 21 per cent in 2016 to break £15m.

Profits rose from £12.4m to £15m last year, while turnover rose 23 per cent to £69m.

Across the business, True Potential has £52bn of assets under administration.

True Potential attributed its 2016 growth to its technology and range of portfolios.

True Potential managing partner David Harrison says: “In 2016 we had some notable market-moving events, including Brexit and the election of Donald Trump. As an investment and financial advice business, to end that year with turnover up by a quarter and profits up by a fifth is a remarkable achievement and shows the strength of our offer to consumers.”

He adds: “Our aim is to give people in the UK the best chance of growing their savings and investments in an era of record low interest rates that are easily outstripped by rising inflation. We are doing that by offering high quality financial advice and investment funds that are designed to perform in unpredictable conditions.”