If You Are A True Potential Wealth Management Customer You Could Claim Compensation

If you invested with True Potential Wealth Management, you could be owed compensation. Many clients were encouraged to switch their pensions or investments into True Potential’s own funds, but for some, this has resulted in unnecessary charges, poor performance, and financial loss. Following intervention by the Financial Conduct Authority, True Potential has now set aside over £100 million for client compensation.

Compensation is not automatic, and we are not yet confident it will result in full compensation. In our experience with similar schemes, clients have often received only partial redress, and the process can be subject to significant delays.

What went wrong?

• Clients were contacted about switching pensions into True Potential’s in-house funds, presented as “non-advised” options. However, many clients discussed these offers with their financial advisers, meaning advice was effectively given - without the necessary checks to ensure it was the right decision for the individual.
• Advisers earned up to 8% commission for transferring clients into True Potential funds, creating a clear conflict of interest. Many clients were unaware their adviser stood to gain financially from recommending the switch.
• In many cases, clients moved from well-performing pensions into higher charging, underperforming True Potential funds. Often, these transfers were entirely unnecessary and left clients financially worse off.
• Clients should have received a full suitability report explaining why the advice was appropriate for them. Where these reports were missing or inadequate, there is no proof the advice given was in the client’s best interests.

The Financial Impact and Redress

True Potential has set aside significant funds to compensate those affected by unsuitable advice. However, compensation is not automatic - you need to make a claim to recover your losses. Although True Potential operates its own internal redress scheme, we are not confident it will result in full compensation. In our experience with similar schemes, clients have often received only partial redress, and the process is frequently subject to significant delays.

Are You In A Position to Make A Successful Claim?

You may be eligible for compensation if:

• You transferred your pension into a True Potential fund
• You received advice from a financial adviser, even if it was described as 'non-advised'
• Your pension has underperformed or faced higher fees since transferring
• You were not provided with a clear suitability report

How CP Financial Claims can help

At CP Financial Claims, we are specialists in securing compensation for clients who have been mis-sold pensions and investments. We take the stress out of the claims process by handling everything for you from start to finish.

• No Win, No Fee - there’s nothing to pay upfront, and you only pay if we’re successful, subject to our full terms at https://www.cpfclaims.co.uk/fees-and-terms/
• Expert support - we handle the entire process – from paperwork to communication with the FSCS, the Ombudsman, or the firm directly.
• Specialist experience - we know how to navigate pension mis-selling claims efficiently
• Regular updates - we’ll keep you informed every step of the way

Don’t Wait – Get In Touch

It only takes a few minutes for a no-obligation chat with our team – for straight-forward, clear advice.

You are not obliged to use claims management services. You may claim for free directly to those you hold responsible, or to a statutory compensation scheme or ombudsman.

Call 0203 287 7811

Email hello@cpfclaims.co.uk

Or fill in the form on this page