True Potential Investor Review

This review will help you determine whether this investment platform is right for you.

Updated: May 20, 2024
Matt Crabtree

Written By

Matt Crabtree

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True Potential Investor is a steady-growing Robo-Advisor platform which provides various investment management services.

True Potential Investor offers several forms of actively managed investment portfolios with different levels of risk and has a strong track record of Return on Investments (ROIs) since launching in 2014.

Regardless of whether you are an expert investor or a newcomer, it's always important to conduct your own research before depositing your money anywhere. To help you during your search, our expert team of financial advisors have constructed this True Potential Investor review to help you determine whether this investment platform is right for you.

As we review True Potential Investor, we will dive into every corner of this company's online platform, fees, resources, investment account options, and all additional financial services, so that you are equipped will all the knowledge you need to decide whether this platform matches your requirements.

What is True Potential Investor?

True Potential Investor is a regulated investment platform part of the investment company and financial services collective, True Potential.

Within True Potential, are several branches, such as their financial advisory service, True Potential Wealth Management, which is FCA regulated. They additionally offer bespoke ‘Advisors Services' to businesses, which currently supports more than 20% of the UK's financial advisors through the True Potential Wealth Platform.

Looking at True Potential as a whole company, it cohesively provides customers with an array of professional investment services, including advice distribution, investment management, and financial services technology (such as ImpulseSave). Despite being situated in Newcastle upon Tyne, True Potential has more than 440 financial advisors operating across the UK.

True Potential has received several accolades throughout the years, including the ‘European Public Vote Award' in 2018 and the ‘Best Platform for Innovation Award' in 2019 from the European Business Awards. 

What Sort of Investor Does True Potential Investor Cater to?

The platform caters to newbie investors looking for a low-maintenance investment portfolio/products. Because True Potential provides fully-managed investment portfolios, customers don't have to do any heavy lifting or upkeep.

Customers may additionally choose to top-up their accounts with a minimum of just £1, making True Potential Investor ideal for individuals looking to make smaller, more flexible investments. 

True Potential Investor's Products, Services & Financial Tools

While True Potential Investor is labelled a Robo-Advisor platform, it delivers active portfolio management with access to over 14,000 experts situated in 200 destinations worldwide.

Their portfolios restrict users, meaning you can't pick your own individual funds and are managed through True Potential's ISA, SIPP and General Investment accounts.

Here are the different forms of investment portfolios available with this platform:

  • Balanced: A portfolio consisting of stocks and bonds to minimise potential volatility.
  • Growth: A diversified portfolio with capital appreciation as its major goal, and minimal/no dividend payouts.
  • Defensive: A regularly maintained portfolio consisting of stable investment products.
  • Cautious: A relatively lower-risk investment portfolio which aims to generate maximum total returns.
  • Aggressive: A portfolio designed for substantial gains while accepting significant risks that come with the investments.

Each portfolio has its own asset allocation, meaning where your own money goes, along with the percentage amount, is entirely dependent upon the type of investment portfolio you select. Here are the different types of assets available with True Potential Investor:

Equities:

  • UK Equities
  • European Equities
  • North American Equities
  • Japanese Equities
  • Emerging Market Equities

Gilts & Bonds:

  • UK Gilts
  • UK Corporate Bonds
  • Emerging Market Bonds
  • Global Bonds
  • Global Inflation Bonds
  • Global High Yield Bonds

Additional Asset Types:

  • Property
  • Cash & Cash Equivalents
  • Commodities

True Potential: ISA Review

True potential offers a great tax-efficient ISA account, especially for individuals looking to start their long-term savings.

While most Robo-Advisors have a minimum investment requirement, True Potential offers flexibility by allowing you to set up an ISA bank account with as little as £1.

When analysing losses, their ISA account is significantly creditable. Their most cautious portfolios demonstrate a progressive 17.59% interest rate, and their aggressive portfolios have managed to accumulate an impressive 51.16%.

Most interesting of all, is that True Potential's balanced portfolios have collectively hit an interest of 35.33%, which is significantly better than most options on the market at the moment. If you choose to open an ISA account with True Potential, you get unlimited management and monitoring access via the notably easy-to-use, user-friendly app.

While True Potential Investor does not currently offer a Junior ISA, the True Potential Wealth Platform does, requiring a £50 initial investment, and allowing continuous online tracking via their website and app. 

True Potential: Self-Invested Personal Pension (SIPP) Review

SIPP accounts are one of the best, tax-efficient ways of preparing for retirement. True Potential Investment's SIPP accounts work well for both self-employed and regularly employed people.

Just like True Potential's ISAs, their Personal Pension accounts are fully managed, can be accessed 24/7 via the True Potential Investor app, and can be topped up with just £1 using the ImpulseSave feature.

It is important to acknowledge that True Potential Investor's SIPP accounts come with pricier fund fees, with an average annual fee of 1.16% and an inflation fee of 2.5%.

However, most customers accept True Investor's costly SIPP fees because of the ongoing expert management, which ensures significantly greater performance, when compared to the investment options of its competing providers.  

True Potential: General Investment Account Review

As with most of True Potential's accounts, when creating a General Investment Account (GIA), you are asked a series of questions to pinpoint your income, spending habits, and how much you can afford to invest. This account option is essentially purpose-made to fit your personal financial goals and financial flexibility.

It is also worth noting that True Potential Investor does not limit you to a singular GIA, meaning you can set up as many as you please.

True Potential: App Review

True Potential's app has a high star rating of 4.3% on Apple's app store, which is supported by over 400 reviews. Customers have shared that this investment app is intuitive, innovative, and straightforward to navigate.

As part of its high performance, the app enables users to set their own personal financial goals, track performance 24/7, make speedy deposits with ImpulseSave, and even link assets and liabilities to display a synopsis of net wealth. 

How to Open an Account & Transfer Your Investments with True Potential Investor

To ensure your account is moulded to fit your financial goals and current financial health, True Potential Investor asks customers to answer a series of questions designed to assess your financial situation and future plans/goals.

Once you have answered all the basics, you will be forwarded to a 12-question assessment which is designed to unveil your risk tolerance and general attitude towards risks. The process can be a little lengthy, so be sure to clear a solid 15 to 20 minutes of your time.

Although onboarding with True Potential Investor is a slower process than with other providers, it ensures that every decision made takes into account your best interest, matching you with the best possible portfolio option, in line with your responses.

Because True Potential Investor are regulated by Financial Conduct Authority (FCA), you will be questioned on whether you have any personal financial inhibitions (such as your employment security, age, an illness, and so forth) which might impact your ability to make investment decisions.

Once all the above is out of the way, True Potential will allocate you with a relevantly suited risk profile and present you with insights into the platform's annual growth, your asset allocation, and the growth of the portfolio. After reviewing this overview, and checking you are satisfied with all the information provided, you can go ahead and open your online account.

During this final step, you will be required to enter some standard personal information, such as your bank details, national insurance number and contact information, and so on.  

True Potential Investor's Fees

True Potential Investor present higher fees than other leading competitors.

However, their fees can be justified because customers do tend to receive better returns and services with this platform, than with other providers.

Transparency

True Potential exerts pretty much every effort to demonstrate total transparency to its customers.

The main way they signify transparency is through their free online investment calculator, which enables you to see how much your money can grow while taking into account their average annual fees – because they don't hide their charges, this platform essentially delivers a ‘what you see is what you get' situation.

Upon browsing True Potential Investor's website, you will likely notice no mention of any discretionary management fees, set-up fees, withdraw funds fees, and transaction fees, because all of these actions are entirely complimentary when you invest with the platform.

Product Costs/Fund Fees

Although True Potential's product costs/fund fees can vary, they typically charge around 0.76% (subject to change). This fee covers your ongoing portfolio charges and every transaction fee.

Service Costs/Platform Fees

True Potential's service cost/platform fee is currently 0.40% (subject to change). This is a flat fee, meaning it won't alternate depending on your investment, and covers several upkeep areas such as custodial charges, administration of purchasing and selling your investments, running their online platform/mobile app, and customer support (such as live chat).

True Potential Investor's Customer Services

True Potential Investor currently has a considerable star rating of 4.9 out of 5 on TrustPilot, with 91% of reviews giving the platform 5 stars.

It is safe to say that customers have little to complain about when investing with True Potential.

Upon reading some of the reviews, many customers claim to enjoy speaking with their helpful and polite team and receive a satisfactory level of help when consulting with a financial advisor from True Potential.

Their knowledgeable staff are available to offer their help and expertise between 8 am and 8 pm, Monday to Friday, and can be reached via phone, live chat, and email.

Additional Helpful Information

Before we wrap things up, here are some useful extras worth knowing…

How to Contact True Potential Investor

True Potential can be contacted via telephone at 0191 300 9319 and via email at discover@tpllp.com.

How to Withdraw Money with True Potential Investor

Withdrawing money with True Potential Investor is a hassle-free process. All you have to do is contact their customer service team by dropping them a message through the online app or through your online account, detailing the amount you wish to withdraw and the account you wish to withdraw into, and let them do the rest.

How to Close an Account with True Potential Investor

To initiate the process of closing your account, you will need to reach out to customer support via the platform's message centre, or by phone, and await further instructions.

True Potential Investor Review Roundup

Considering all the useful attributes and valuable help provided by this platform, True Potential Investor is a beginner-friendly provider which offers a reasonable and justifiable price tag.

While getting started may be long-winded, their setup protocols are perfect for customers who are unsure of what investment portfolio is best for them, making the process undoubtedly worth it for novice investors, and they don't hide any of their costs.

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