Financial services and platform provider True Potential Investments has reported a substantial increase in both revenue and profits for the first half of this year.

Financial services and platform provider True Potential Investments has reported a substantial increase in both revenue and profits for the first half of this year.

The firm said the results were down to the launch of its “impulseSave” technology - which enables savers to make micro-payments into investments from as little as £1 at the touch of a button. The service is available on True Potential’s wealth platform, used by financial advisers and their clients.

“True Potential provides leading-edge technology to deliver a more modern wealth management experience and it is clear from our financial results that this is well suited to today’s advisers and their clients,” said Neil Johnson, senior partner at the firm.

The firm increased revenue to £20.8 million ($32.52 million) in the first six months this year - up 87 per cent on the same period last year - while pretax profit came in at £4.9 million, an increase of 104 per cent.

True Potential provides technology and business support services to more than 22 per cent of the UK financial advisor market and financial advisory services for private individuals.