True Potential assesses offers from prospective buyers
Wealth management firm True Potential has appointed bankers to oversee offers from potential buyers, the company has confirmed.
The Newcastle-based platform is planning a sale that could value it at almost £2bn, Sky News reported.
True Potential, which was established in 2007, has hired bankers Perella Weinberg Partners to consider and advise on potential buyer interest in the business.
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A spokesman for the firm said that 2017 "was an exceptionally strong year for True Potential and that performance has accelerated throughout 2018, in an industry that is also growing fast".
"It is inevitable that there would be interest in the company," they added.
"True Potential has appointed Perella Weinberg Partners to consider and advise on the domestic and international interest that has been shown in us.”
The business, which offers investment, wealth management and advisory services, reported turnover of £99m and profits of £24m last year.
It is led by managing partner David Harrison, who also founded financial services firm Positive Solution, and oversees the strategic and key business decisions for the group.
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