True Potential Appoints Northern Trust for Asset Servicing Solutions
January 19 2024 - 4:00AM
Business Wire
Selected by UK Wealth Manager to Service GBP26
billion of Assets Under Management
Northern 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).
Northern 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.
Founded 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.
These 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.
Louise 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.”
Laurence 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 –meeting its requirements for
speed, agility and insight in servicing investors, while being able
to respond flexibly to the future demands of innovation and
growth.”
Northern Trust’s Global Fund Services business provides services
including fund administration, global custody, investment
operations outsourcing and data solutions to global investment
managers – supporting a range of complex investment strategies
across the full spectrum of asset classes.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider
of wealth management, asset servicing, asset management and banking
to corporations, institutions, affluent families and individuals.
Founded in Chicago in 1889, Northern Trust has a global presence
with offices in 24 U.S. states and Washington, D.C., and across 22
locations in Canada, Europe, the Middle East and the Asia-Pacific
region. As of December 31, 2023, Northern Trust had assets under
custody/administration of US$15.4 trillion, and assets under
management of US$1.4 trillion. For more than 130 years, Northern
Trust has earned distinction as an industry leader for exceptional
service, financial expertise, integrity and innovation. Visit us on
northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust
or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle
Street, Chicago, Illinois 60603 U.S.A., incorporated with limited
liability in the U.S. Global legal and regulatory information can
be found at https://www.northerntrust.com/terms-and-conditions.
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version on businesswire.com: https://www.businesswire.com/news/home/20240119982489/en/
Europe, Middle East, Africa & Asia-Pacific: Camilla Greene
+44 (0) 20 7982 2176 Camilla_Greene@ntrs.com
Simon Ansell +44 (0) 20 7982 1016 Simon_Ansell@ntrs.com
US & Canada: John O’Connell +1 312 444 2388
John_O'Connell@ntrs.com
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