Personal finance platform True Potential Investments has made Apple’s latest consumer technology accessible to UK investors by launching its True Potential Investor app on Apple Watch.
This technology is the first of its kind in the UK and the first to appear on Apple Watch. The True Potential Investor app allows Apple Watch users to invest and save direct from their device quickly and easily and is aimed at the mass market of non-expert investors and savers.
True Potential, a Deloitte UK Technology Fast 50 company, designed the app to bring a more strategic way of thinking to personal investing by allowing people to set financial goals, risk levels and select funds by accessing detailed information, such as performance and volatility. Users can regularly view their savings against their goals and top-up to close any gap.
One of the significant features of the app is impulseSave. It is unique technology, named ‘Leading Innovation’ at the 2014 Aberdeen Awards, designed to turn spenders into savers by allowing the user simply to tap a button on the screen and add money – which can be as little as £1 – to savings, pensions and investment accounts.
To date over £13m of new money has been invested through impulseSave, the bulk of it in individual investments of £10 or under, demonstrating that it is an important tool for the everyday consumer who want help to save and invest.
Daniel Harrison, managing partner, True Potential Investments, said: “True Potential has launched another first with this leading-edge technology that can change the way people save and invest. With technology that people use every day, such as mobile phones and now smartwatches, we can turn spenders into savers and get people in to the habit of investing. Technology such as ours proves that investing can be fast, easy and even fun.
“We wanted to be the first to add this kind of functionality to Apple Watch because we know that Apple has a knack of catching the zeitgeist and we pride ourselves on being first when it comes to personal finance technology.”
True Potential was named one of the Deloitte Technology Fast 50 firms in the UK and the Deloitte Technology Fast 500 EMEA for 2014. True Potential LLP group profit grew 98% from £5.3m in 2013 to £10.5m in 2014.