Press release
True Potential Appoints Northern Trust for Asset Servicing Solutions
Selected by UK Wealth Manager to Service GBP26 billion of Assets Under Management LONDON--(BUSINESS WIRE)-- Northern Trust (Nasdaq: NTRS) today announces it
About this update from Northern Trust Corporation
[{"type":"text","content":"\nSelected by UK Wealth Manager to Service GBP26 billion of Assets Under Management\n\n\n LONDON--(BUSINESS WIRE)--\nNorthern Trust (Nasdaq: NTRS) today announces it has been appointed to provide asset servicing solutions to True Potential, a United Kingdom (UK)-headquartered wealth management firm, supporting GBP26 billion (approx. US$33bn) of its assets under management (source: True Potential, 17 January 2024).\n\n\nNorthern Trust is providing fund accounting, custody, depositary and transfer agency services to True Potential’s open-ended investment company (OEIC) UK-domiciled fund range. This range supports all True Potential’s investment products and assets under management.\n\n\nFounded in 2007 and headquartered in Newcastle, UK, True Potential is a platform operator, investment manager, pension operator and administrator providing investment products and technology to more than 1.4 million private clients. Its investment products include the True Potential Wealth Strategy Funds – aimed at helping clients manage wealth in a simple solution – and True Potential Portfolios, a suite of diversified, discretionary-managed investment solutions.\n\n\nThese products are distributed by regulated advisory businesses offering a ‘hybrid advice’ mix of expert financial advice and technology for private clients and to non-advised clients via the True Potential investment platform.\n\n\nLouise Blagbrough, head of Strategic Partnerships and Projects at True Potential comments: “Northern Trust’s ability to integrate smoothly with our technology, its focus on client service and consultative approach throughout our selection process were among the reasons for its appointment as our asset servicer. The appointment supports our ambitions of continuing to grow our business by driving positive industry-wide change in how wealth management is delivered, while empowering financial advisers and their clients to take control of their futures.”\n\n\nLaurence Everitt, head of Global Fund Services, UK at Northern Trust, said: “We are delighted to be supporting True Potential’s focus on innovative investor servicing, product distribution and operational efficiency as its asset servicing partner. In particular, Northern Trust’s open architecture-approach to developing our technology platform helps us integrate smoothly with our client’s operating model –...