In this brokerage review, we will look to answer one key question: Is True Potential Investor good? To find out, we will explore the offerings available to new investors, such as Stocks and Shares Individual Savings Accounts (ISAs), Personal Pensions and General Investment Accounts (GIAs), and examine the way that the company’s investment portfolios look according to risk profiles. Read on as we take a deep dive into True Potential Investor’s structure and learn all about its fees, accounts, trading platform, website, customer service, regulation, awards and payment methods.
- Assets, portfolios & available accounts
- Robo advisor costs
- Mobile trading and the company website
- Customer support, ease of withdrawals
- 1. 1) Robo Advisor Trading Offer – Tradeable Assets, Savings Plans and Offered Accounts
- 3. 3) Accounts – Advantages of the Three True Potential Investor Accounts
- 4. 4) Trading Platform – Software, Costs and Mobile Trading
- 5. 5) Usability of the Website – Construction, Colour Design, Terms and Products
- 6. 6) Customer Support – Contact Options, Competence and Accessibility
- 7. 7) Methods of Payment – Withdrawals, Fees and Minimum Deposits
- 8. 8) Additional Offers – Account Transfers and Training
- 9. 9) Regulation & Deposit Protection – Licensing, Listing and Data Encryption
- 10. 10) Awards – Multiple Honours and Accolades
- 11. Conclusion
Trader Rating Total
Shares, Commodities, Bonds, Money Market
1) Robo Advisor Trading Offer – Tradeable Assets, Savings Plans and Offered Accounts
True Potential Investor uses the expertise of over 9,000 finance professionals based in 200 locations worldwide to deliver fully-managed, multi-asset investment portfolios that maximise returns according to your investment risk preferences. The assets traded include varying blends of equities (UK, North American, European, Japanese, Asia Pacific and Emerging Markets), bonds (Global, Global Inflation-Linked, Emerging Markets and Global High-Yield), exchange traded funds (ETFs), UK gilts, UK credit, property, commodities and cash. One of the three accounts offered by True Potential Investor is the Stocks & Shares ISA, which gives clients the prospect of substantially better growth than conventional Cash ISAs.
The estimated value of a £20,000 Cash ISA after 25 years at a Bank of England Cash ISA Annual Growth Rate of 0.94% is £81,100, while the equivalent for a Stocks and Shares ISA at an annual growth rate of 5% is £127,000. There are three broad accounts available from True Potential Investor: Personal Pensions, Stocks and Shares ISAs and GIAs. As far as we can determine in this True Potential Investor review, the company does not currently offer custody accounts such as Junior ISAs for minors.
- A diverse range of tradeable assets arranged in different risk categories for the different portfolios available
- Stocks and Shares ISAs for enhanced returns
- True Potential Investor Pension and General Investment Accounts
3) Accounts – Advantages of the Three True Potential Investor Accounts
Each of the three account categories (Personal Pensions, Stocks and Shares ISAs and General Investment Accounts) benefit from the combined experience and wisdom of many experts in various locations across the globe and an expert in-house team tasked with managing your investments. There are no fees when you transfer a pension or ISA, and neither are there any fees when you make a transfer involving one of True Potential Investor’s fully managed investment portfolios. Our thorough broker comparison shows that these are highly attractive features.
It is also possible to top up your accounts, even by as little as £1, while you are “on the hoof” using True Potential Investor’s unique, world-first impulseSave® investment feature. Add to this the fact that it takes a matter of ten minutes to set up any one of the available accounts, and you can see the convenience of this trading platform. All you need do is supply a few details about yourself and your investment goals, and the platform does the rest.
- Each account receives the combined wisdom of more than 9,000 experienced experts worldwide
- No transfer fees, which is a boost to trader funds
- Accounts are easy and fast to set up online
4) Trading Platform – Software, Costs and Mobile Trading
True Potential Investor offers its distinctive impulseSave® software, which simplifies the process of topping up investments that you receive advice on. You can use this software to add to your portfolios whenever you choose to reach your financial goals faster. The trading platform creates an investment portfolio for you that is essentially a blended composite of big-brand investment funds. Portfolios are categorised by risk level, rising from relatively low-risk investments to higher-risk/potentially higher-return investments (in ascending order of risk level, the portfolios are: Defensive, Cautious, Balanced, Growth and Aggressive).
The combined service and product charges amount to approximately 1.2% of your investment per year when you open a True Potential Investor brokerage account. This is neither expensive nor cheap, but perhaps in the top end of the mid-range on costs. An iOS- and Android-compatible app is available from the Apple App Store and Google Play respectively, enabling 24/7 access to your fully managed portfolio so that you can monitor your performance, set new goals and top up your investments as and when you choose to. The app also lets you link to your bank accounts and savings to get a complete picture of your net worth at a single glance using Yodlee technology.
- impulseSave® software enables on-the-go investments
- Set portfolios offer a range of risk and return levels for different investor preferences
- Mobile app is easy to use and convenient
5) Usability of the Website – Construction, Colour Design, Terms and Products
Our True Potential Investor stock trading review found that the company’s website has a clear and logical arrangement with excellent visuals and graphics, and it is also easy to navigate. Important information such as pricing is readily available. The public site is very similar to the private secure site in its pleasingly unfussy design and ease of use. As you choose portfolios on the platform based on your risk preferences, however, you do not have the ability to select a different fund or trade shares. A blue True Potential Investor banner adorns the top of each page, and the page layout, graphics and informative videos are uncluttered, crisp and visually pleasing. You can find many resources neatly divided into separate .pdf documents by clicking the Documents link under the Resources heading at the foot of each page. Terms & Conditions, Portfolio Factsheets, Annual Reports and Transfer Forms are all viewable. Details regarding accounts, portfolios, the True Potential investor team, pricing and transfers are accessible by clicking the information box at the top right-hand corner of each web page’s logo banner.
- Easy-to-navigate website which saves traders time in finding what they’re looking for
- Pleasing, clear, unfussy web design
- Legal information and top products all readily accessible
6) Customer Support – Contact Options, Competence and Accessibility
This brokerage review would not be complete without exploring the customer support options. You can contact the support team via telephone (Monday through Friday from 8.00am to 8.00pm), email (the company promises to respond “as soon as possible”) or Live Chat (also available Monday through Friday from 8.00am to 8.00pm). There is a comprehensive Frequently Asked Questions (FAQ) section on the True Potential Investor website as well. The support staff are exceptionally courteous and seem highly knowledgeable about the company’s products and services.
There is no 24/7 support available currently, although the telephone, Live Chat and email channels are responsive and efficient when they are open. As noted above, the extensive FAQ section is able to address your most common questions. Customers in the vicinity of the head office in Newcastle upon Tyne (Gateway West, Newburn Riverside) are welcome to visit to make queries if they wish.
- No 24/7 support service, but email support is available if needed
- True Potential Investor offers telephone support from Monday through Friday between the hours of 8.00am and 8.00pm
- The company offers online Live Chat support via its Help Centre between 8.00am and 8.00pm, Monday through Friday
7) Methods of Payment – Withdrawals, Fees and Minimum Deposits
You can make a withdrawal at any time from your Stocks and Shares ISA or General Investment Account with True Potential Investor. Our review found that the time interval for selling your investment and transferring the money to your personal bank account is approximately seven days. You will not, however, be able to withdraw from a Personal Pension until you have reached 55 years of age. The only fees that True Potential Investor charges are a service fee of 0.40% of your investment per year and a product fee of 0.76% of your investment per year, or about 1.2% in total. The service fee covers the cost of administration of all the investments in your fully managed portfolio, all-day access to your account, safe custody of all of your assets and Live Chat, email and telephone support.
The product fee covers ongoing charges for all the funds contained in your investment portfolio as well as all transaction fees. True Potential Investor does not charge any fees for withdrawals, set-up, transfers or top-ups, and there are no discretionary management fees. You can make a deposit of as little as £1 with True Potential Investor.
- You can make withdrawals at any time from True Potential Investor’s Stocks & Shares ISAs and GIAs
- Pension withdrawals are only available for people at the minimum age of 55 years
- There are no withdrawal fees (transaction costs covered by the product fee)
8) Additional Offers – Account Transfers and Training
The True Potential Investor stock trading platform is flexible about transfers. You will be able to transfer existing Stocks & Shares ISAs as well as existing Cash ISAs, General Investment Accounts and Personal Pensions to the platform. When you opt for True Potential Investor stock trading (i.e., the True Potential Investor Stocks & Shares ISA), you can transfer ISAs easily, whereupon the company’s experts spread the investment over literally thousands of global holdings. This procedure minimises risks and maximises returns. The same procedures pertain to existing Personal Pensions and GIAs upon transfer to the company.
Our True Potential Investor brokerage review found that this spreading is a unique selling point for the company. The website features numerous free-of-charge videos illustrating the various kinds of investments on offer at True Potential Investor and describing how they generate returns. There are also many enlightening and educational blog articles. Between them, they cover all True Potential Investor products and services, (GIAs, Stocks & Shares ISAs , Personal Pensions and other options).
- You can transfer existing Cash ISAs, Stocks & Shares ISAs, GIAs and Pensions to the True Potential Investor stock trading platform
- Your transferred assets will then spread over thousands of global holdings to minimise risk and enhance returns
- The site provides good training opportunities with numerous videos and blog features
9) Regulation & Deposit Protection – Licensing, Listing and Data Encryption
True Potential Investor is the trading name of True Potential Investments Limited Liability Partnership (LLP), which is authorised and regulated by the UK’s lead financial services watchdog, the Financial Conduct Authority (FRN 527444). The company also has coverage under the provisions of the Financial Services Compensation Scheme (FSCS). In England and Wales, True Potential Investments is LLP No. OC356027. Its head office is at Gateway West, Newburn Riverside, Newcastle upon Tyne, NE15 8NX. True Potential Investor takes robust measures to protect your data with strong encryption technology.
To prevent unauthorised third parties from accessing data, the company uses exceptionally secure servers protected by powerful Secure Socket Layer (SSL) v3 or Transport Layer Security v1 (TLS) encryption. All data submitted through True Potential Investor sites receive protection from this dense encryption technology, as signified by “https” in the URL bar of your browser at the start of the web address and the padlock icon. As some older browsers cannot support the latest SSL technology, you should ensure that you use an up-to-date browser when accessing the company website.
- True Potential Investments is authorised and regulated by the FCA
- Covered by the Financial Services Compensation Scheme
- It protects all customer data with innovative new SSL and TLS encryption
10) Awards – Multiple Honours and Accolades
Our True Potential Investor brokerage review would be incomplete without noting that this is a multi-award-winning company. In September 2018, it won the Best Platform Provider AUM Under £25bn Award at the Schroder Platform Awards in London, which celebrate excellence and achievement in the rapidly evolving world of investment platforms and financial technology (fintech). This was the second consecutive year that True Potential Investor won this award. In May 2018, it won the European Public Vote Award at the 2017/18 European Business Awards in Warsaw, Poland. In February 2018, the company received the Best Platform for Innovation Award at the Platform Awards. In 2017, it won the prestigious European Business of the Year Award. This makes True Potential Investor the first company to have received multiple European Business Awards. It also won, for the sixth year running, the Best Support Service Award from the Money Marketing Awards as well as the Best Use of Technology Provider Award from the same body. The company also received the Guardian’s Business Partnership Award in 2017 for its partnership with the Open University to create the True Potential Centre for the Public Understanding Of Finance (PUFin). The company won its first award (the Money Marketing Awards’ Best Use of Technology by an Adviser Award) in 2011 after just three years of trading.
- Best Platform Provider AUM Under £25bn
- European Public Vote (European Business Awards)
- European Business of the Year
Our True Potential Investor review concludes that this is an outstanding company, especially for beginning investors. Opening a True Potential Investor brokerage account is a very simple process, as the website is constructed well and user-friendly in terms of navigation. Inexperienced and veteran investors alike helped minimise risks and maximise returns, as the company was able to obtain the advice of over 9,000 financial experts across 200 locations globally. Your investments can easily distribute across thousands of global holdings rather than linger in too few places. We were also highly impressed with the company’s website, customer service options, strict regulation and various awards. To conclude our review of True Potential Investor , we will give you a straight answer to the question that we posed at the outset: Is True Potential Investor good? Yes, we absolutely think that it is, and we would recommend that you sign up for its services.
- Easy-to-use platform with different account options
- Easy-to-use mobile app
- Professional-looking website
- Great customer service on weekdays
- Winner of various awards
- No 24/7 customer support
- No Personal Pension withdrawals for people under 55 years of age