FTV’s Brad Bernstein and Kyle Griswold have joined the company’s board of directors as part of the investment.
True Potential, which was launched in 2007, provides products and technology to nearly 20 per cent of UK financial advisers and serves the wealth management needs of over 2.1 million private clients.
Bernstein said, “Technology has become a true game-changer in financial services.
“As the wealth management landscape in the UK continues to transform, digital tools will become table stakes for advisers who want to retain existing clients and continue to grow their client bases.
“True Potential’s visionary management team has built an innovative company that is successfully using technology to deliver highly compliant, accessible, secure and user friendly wealth management solutions that address these changing market dynamics for both advisers and clients.”
Griswold added, “Today’s investors demand access to their personal financial information at any time and from anywhere, on a range of mobile devices.
“But many investors also want trusted human interaction, especially during periods of market volatility.
“True Potential is uniquely combining technology and experienced advisers to deliver a highly compelling investment experience.”
True Potential was represented by Berkery Noyes & Co, a New York-based investment bank, and Ward Hadaway, a Newcastle, Leeds and Manchester-based law firm.
Growth equity-focused investment firm FTV Capital beat its target for its fourth flagship fund in 2014 by holding a $700m final close.
FTV originally targeted a $500m fundraise for the vehicle, which it said was significantly oversubscribed.
The firm said it planned to use the fund to continue focusing on high-growth companies at the intersection of its core sectors of enterprise software and technology, financial services and payments and transactions processing.
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