Wealth Management

True Potential’s wealth business swings to a £243m loss after FCA review

Cinven-backed advice consolidator was forced to set aside £100m to refund clients who were transferred into non-advised investments

True Potential’s wealth business swings to a £243m loss after FCA review
Photo: Chris Ratcliffe/Bloomberg via Getty Images

True Potential’s wealth management business fell to a £243m operating loss last year after it was forced to set aside £100m to refund clients who were transferred into non-advised investments.

This was down from a £9.9m operating profit in 2023, according to annual results for True Potential Wealth Management at Companies House.

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110-Hour Workweeks Drove Young Bankers at a Boutique Firm to the BrinkExternal link

110-Hour Workweeks Drove Young Bankers at a Boutique Firm to the Brink