LONDON – Northern Trust (Nasdaq: NTRS) today announces it has been appointed to provide asset servicing solutions to True Potential, a United Kingdom (UK)-headquartered wealth management firm, supporting GBP26 billion (approx. US$33bn) of its assets under management (source: True Potential, 17 January 2024).

Northern Trust is providing fund accounting, custody, depositary and transfer agency services to True Potential’s open-ended investment company (OEIC) UK-domiciled fund range. This range supports all True Potential’s investment products and assets under management.

Founded in 2007 and headquartered in Newcastle, UK, True Potential is a platform operator, investment manager, pension operator and administrator providing investment products and technology to more than 1.4 million private clients. Its investment products include the True Potential Wealth Strategy Funds – aimed at helping clients manage wealth in a simple solution – and True Potential Portfolios, a suite of diversified, discretionary-managed investment solutions.

These products are distributed by regulated advisory businesses offering a ‘hybrid advice’ mix of expert financial advice and technology for private clients and to non-advised clients via the True Potential investment platform.

Louise Blagbrough, head of Strategic Partnerships and Projects at True Potential comments: “Northern Trust’s ability to integrate smoothly with our technology, its focus on client service and consultative approach throughout our selection process were among the reasons for its appointment as our asset servicer. The appointment supports our ambitions of continuing to grow our business by driving positive industry-wide change in how wealth management is delivered, while empowering financial advisers and their clients to take control of their futures.”

Laurence Everitt, head of Global Fund Services, UK at Northern Trust, said: “We are delighted to be supporting True Potential’s focus on innovative investor servicing, product distribution and operational efficiency as its asset servicing partner. In particular, Northern Trust’s open architecture-approach to developing our technology platform helps us integrate smoothly with our client’s operating model –meeting its requirements for speed, agility and insight in servicing investors, while being able to respond flexibly to the future demands of innovation and growth.”

Northern Trust’s Global Fund Services business provides services including fund administration, global custody, investment operations outsourcing and data solutions to global investment managers – supporting a range of complex investment strategies across the full spectrum of asset classes.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2023, Northern Trust had assets under custody/administration of US$15.4 trillion, and assets under management of US$1.4 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust or Northern Trust Corporation on LinkedIn.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.