True Potential is a British wealth management and financial technology company based in Newcastle, England.[1][2] The company provides investments to clients across the UK,[3]both to financial advisers and their clients.[3][4][5]

History

True Potential was founded in 2007 by Chairman Sir David Harrison and his investment partners.[6] Prior to founding True Potential, Harrison had founded the financial services firm Positive Solutions, which he sold to Aegon in 2003.[6]

From 2012 to 2017, True Potential was included on the Deloitte Technology Fast 50 list of fastest growing technology companies in the UK.[7][8]In 2017, True Potential also won Business of the Year at the European Business Awards.[9]

In 2018, True Potential appointed bankers from Perella Weinberg Partners to facilitate a sale of the company.[10]

A majority stake in True Potential was acquired by global private equity firm Cinven in 2022.[3][11][12] Other firms that made a bid for True Potential included Pegasus Europe.[13]

True Potential engages in philanthropic initiatives through the Harrison Foundation.[14][15] The company also has a partnership with the Open University, the True Potential Centre for the Public Understanding of Finance, which delivers free courses to better learners’ understanding of personal finance.[16]

Reference

  1. ↑ Banking, Ben Martin (2023-11-06). "True Potential could be realised by early stake sale". The Times. ISSN 0140-0460. Retrieved 2023-11-06.
  2. ↑ Media, Insider (2023-04-03). "Another year of growth for True Potential". Insider Media Ltd. Retrieved 2023-11-06.
  3. 1 2 3 Vallely, Lois (2022-02-08). "True Potential completes sale of stake to private equity firm Cinven". Money Marketing. Retrieved 2023-11-06.
  4. ↑ Ford, Coreena (2023-04-03). "Newcastle's True Potential hails record results as assets top £24bn". Business Live. Retrieved 2023-11-07.
  5. ↑ Whitfield, Graeme (2016-11-18). "Newcastle technology firm True Potential makes UK growth list for three years running". Chronicle Live. Retrieved 2023-11-07.
  6. 1 2 "The millionaire boss who admits he had a lot of luck". BBC News. 2017-07-16. Retrieved 2023-11-06.
  7. ↑ Manning, Jonathon (2017-06-11). "He runs Europe's best business: can David Harrison really be that nice?". Chronicle Live. Retrieved 2023-11-06.
  8. ↑ Whitfield, Graeme (2016-11-18). "Newcastle technology firm True Potential makes UK growth list for three years running". Chronicle Live. Retrieved 2023-11-06.
  9. ↑ Whitfield, Graeme (2017-05-05). "Newcastle company True Potential wins European Business Award". Chronicle Live. Retrieved 2023-11-06.
  10. ↑ "Wealth platform to realise True Potential with £2bn sale". Sky News. Retrieved 2023-11-06.
  11. ↑ English, Simon (2021-09-08). "Cinven snaps up True Potential in £2.5 billion deal". Evening Standard. Retrieved 2023-11-06.
  12. ↑ Crowley, Amy-Jo; Cerqueiro, Pablo Mayo; Cerqueiro, Pablo Mayo (2023-07-12). "Cinven eyes True Potential stake sale as soon as next year". Reuters. Retrieved 2023-11-06.
  13. ↑ "Mustier and Arnault's SPAC targets £2.5bn UK fintech True Potential". Sky News. Retrieved 2023-11-06.
  14. ↑ "Education and employability training centre opens in Teesside". The Northern Echo. 2022-12-06. Retrieved 2023-11-06.
  15. ↑ "Read: A virtuous circle where productivity and profit drive social purpose". Fit for Purpose. Retrieved 2023-11-06.
  16. ↑ Whitfield, Graeme (2020-05-14). "Record results and buy-back as True Potential continues growth". Business Live. Retrieved 2023-11-06.
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