FINANCIAL services firm True Potential is looking to recruit 10 people by the end of the year after increasing its client base so it now works with a fifth of the UK’s independent financial advisers (IFAs).

The five-year-old company has moved into a new 10,000sq ft head office at Newburn Riverside, near Newcastle, after it outgrew its former head office over the road.

The firm designs and builds strategies that allow IFA firms to increase value in their business and helps them offer the best level of advice to their clients.

It has grown its annual turnover from £4.4m last year to £6m, while seeing its operating profit leap from £1.4m to £2.5m this year.

With offices in London, the company currently employs 66 people in the North East following an aggressive recruitment period which saw it take on 20 members of staff in the past six months.

Senior partner Daniel Harrison said: “We work with 22% of all the independent financial advisers in the UK, and many are large national firms.

“We are the market leader, and it would be nice to think we were working with 30% of all IFAs by the end of the year. Where other companies are cutting back on staff, we’re looking to take on another 10 by the end of this year.

“We’re increasing our client base in London all the time so we decided to open our offices down there two years ago.

“It’s sad to say, but we’re doing well out of other companies’ misfortunes. They are turning staff away who have the attributes we are looking for.

“We’ve had some inquiries about taking our services into Europe and North America, but we don’t want to be too greedy. At the moment we’re flat out with the UK market.”