True Potential website
National advisory firm True Potential has reported turnover of £12m in the first half of 2013, a significant increase from £4.9m in 2012.
According to its first half 2013 results, the firm saw pre-tax profit of £2.5m, up 56 per cent from the first half of 2012.
Assets on the True Potential Wealth Platform stand at £1.4bn, an increase of 250 per cent from 2012.
It has also added over 200 new wealth management partners in the True Potential Wealth Management business. The current figure is 284, up from 70 at the end of June 2012. The firm said this was due to many former bank advisers joining the business post-RDR.
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The True Potential group consists of True Potential Investments, True Potential Wealth Management and True Potential Adviser Services.
Neil Johnson, senior partner at True Potential, said the increases were down to the firm's integrated service proposition post-RDR.
He said: "RDR has presented a huge challenge to our industry, but it was a challenge we were prepared for and we are delighted to be able to post such impressive year-to-date results.
"Seeing our pre-tax profits rise by 56 per cent is especially pleasing in the current economic climate and it shows that the right business plan and an extremely talented plan can achieve outstanding results."
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