UK-based wealth management firm True Potential has enlisted Northern Trust’s integrated trading solutions (ITS) to provide outsourced trading solutions. It assumes the trading function across all internally managed funds.
This expands the partnership between the companies, with Northern Trust named as True Potential’s custodian in January 2024. Currently, the firm provides fund accounting, transfer agency, custody and depository services to True Potential’s open-ended investment company UK-domiciled fund range.
ITS’s price discovery mechanism, which grants access to all 18 available Gilt-edged Market Makers (GEMMS) and a broad range of ETF liquidity options, was a key factor in the appointment, Northern Trust stated.
Amy Thorne, head of ITS at Northern Trust, commented: “True Potential selected Northern Trust as their outsourced trading partner to leverage our extensive access to brokers, trading expertise and transparent commission model. The addition of trading and trade-related processing means True Potential is taking full advantage of Northern Trust’s capabilities at every point in the lifecycle of an investment decision, from execution to custody and beyond.”
Kevin Kidney, head of asset allocation at True Potential, added: “Northern Trust’s outsourced trading operations provide a more attractive pricing model for our portfolios, which we believe can lower costs for our clients. This is important for us all as we continue to grow our investment solutions.
“The team at Northern Trust worked diligently to find the right solution and focused their approach on the best outcomes for our clients. We look forward to growing our relationship with them.”
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