Celebrating our fifteenth consecutive year of growth
We are proud to announce that we’re celebrating our fifteenth consecutive year of growth at True Potential, with turnover rising by 17% to £338 million and EBITDA up by 20% to £176 million.
Our latest Annual Report reveals the success of our long-term investment in pioneering technology and hybrid advice models. This approach has attracted large numbers of financial advisers and investors to True Potential since the beginning of the COVID-19 pandemic.
A fifth of the UK’s financial advisers are either employed by True Potential or use our technology, with a further 284 advisers joining in 2022. With over 1 million client records, 2022 saw assets on our in-house investment platform increase, which now stand at over £24.5 billion – an increase of over £4 billion from the same time last year.
Our mission to close the UK’s savings and advice gaps has never been more vital, with 2022 proving the value that expert financial advice and award-winning technology provide investors in volatile markets.
With an ongoing war in Ukraine, three UK Prime Ministers and a surge in interest rates, clients turned to us more than ever for help with their finances.
We’re incredibly proud of our response to the challenges of 2022. Our financial advisers and support staff worked harder than ever to support the needs of our clients when they needed us most. We produced more content, hosted more webinars and met more people face-to-face than ever before – making sure we stood up to be counted.
We understand the stresses that depressed and volatile markets bring to investors – because we’re in the same boat with our clients. Our directors, financial advisers and staff all invest in the same Portfolios as our clients – meaning we have true ‘skin in the game’ – in the good times and the tough times.
If you’re a regular listener to our podcast, you’ll have heard us say “tough times don’t last, tough people do”. We’ve been through plenty of tough times in the past few years but our optimism for the future remains strong and there are signs that 2023 will look brighter.
One of the greatest celebrations we had at True Potential in 2022 was the knighthood of our Chairman, Sir David Harrison. We were all thrilled to see Sir David recognised for his services to business, education and social mobility. In addition to his knighthood, Sir David also received a Doctorate from The Open University.
We hope that you enjoy reading this year’s annual report. If you’ve been involved with supporting the business as an employee, financial adviser or client, we thank you for your support once again.