Northern Trust tapped by True Potential for outsourced trading solutions

Northern Trust has been selected by UK-based wealth management firm True Potential to provide outsourced trading services.

Offered through its Integrated Trading Solutions (ITS) platform, Northern Trust will provide services across equities, fixed income and exchange traded derivatives, with coverage from multiple trading locations.

The custodian will assume the trading function across True Potential’s internally managed funds with approximately £6.1 billion in assets under management.

“True Potential selected Northern Trust as their outsourced trading partner to leverage our extensive access to brokers, trading expertise and transparent commission model,” said Amy Thorne, head of ITS, EMEA, Northern Trust.

“In addition, our ability to access all 18 available Gilt-edged Market Makers (GEMMS) and broad range of ETF liquidity options via our efficient price discovery mechanism was a key decision point. 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.”

The agreement expands the existing relationship between the two firms, formed earlier this year after True Potential appointed Northern Trust as custodian.

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.”