Northern Trust to Provide Asset Servicing for True Potential’s £26bn in Assets
Northern Trust Corporation has been selected by True Potential, a UK-based wealth management firm, to provide asset servicing for approximately £26 billion (around US$33 billion) of assets under management. This collaboration, announced on January 17, 2024, will see Northern Trust delivering fund accounting, custody, depositary, and transfer agency services to True Potential’s UK-domiciled open-ended investment company fund range.
True Potential Chooses Northern Trust as Asset Servicing Partner
True Potential, a significant player in the UK wealth management sector, has chosen Northern Trust as its asset servicing partner. Established in 2007 and headquartered in Newcastle, True Potential offers investment products and technology to over 1.4 million private clients. Their True Potential Wealth Strategy Funds and True Potential Portfolios aim to simplify wealth management for clients through a combination of expert financial advice and technology.
Northern Trust’s Seamless Integration and Client Service Focus Key Factors in True Potential Partnership
True Potential cited Northern Trust’s seamless integration with their technology and client service focus as key factors in their selection. The partnership aims to support True Potential’s growth and drive positive change in the wealth management industry, while also empowering financial advisers and clients. Northern Trust’s commitment to innovative investor servicing and operational efficiency aligns with True Potential’s goals.
Northern Trust and True Potential Collaborate to Drive Positive Change in Wealth Management Industry
The collaboration between Northern Trust and True Potential seeks to drive positive change in the wealth management industry. Through their partnership, they aim to support True Potential’s growth and empower financial advisers and clients. True Potential’s expertise in investment products and technology, combined with Northern Trust’s seamless integration and client service focus, positions them to make a meaningful impact in the industry.
Northern Trust’s Global Fund Services Positioned for Future Innovation and Growth with True Potential Partnership
Northern Trust’s Global Fund Services business, which offers a suite of services to global investment managers, including fund administration, custody, and data solutions, will benefit from the partnership with True Potential. This collaboration will enhance Northern Trust’s ability to meet the evolving needs of wealth management firms and position them for future innovation and growth. Their technology platform is designed to provide speed, agility, and insight to clients, ensuring they can adapt to future demands.
Analyst comment
Positive news. The partnership between Northern Trust and True Potential will drive positive change in the wealth management industry and support True Potential’s growth. Northern Trust’s seamless integration and client service focus align with True Potential’s goals. This collaboration positions Northern Trust’s Global Fund Services for future innovation and growth.
