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I believe SJP have people managing their funds on a monthly basis?
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Dont fall for that marketing hype. All funds have people working on them daily.
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The main concern is that they don't seem to have been around as long as SJP
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They have been around a long tim. However, it should be treated the same way. Do not use.
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SJP seem to say they hope to achieve around 7% on my medium risk fund, and True Potential about 5%, although I am aware there are never any guarantees.
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Is that using exactly the same volatility measure? If not, then its pointless comparing as all risk scales vary. Medium with one company could be high with another or low with another. We break medium risk into 4 categories and across those four is around a 40% difference in equity. Risk profiles are usually split by a volatility rating. That gives you the context that word descriptions of cautious or medium cannot give you.
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I have never heard of True Potential before, so wonder if anyone uses them, or has heard about them in a positive or negative way?
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They used to phone me up once or twice a year trying to get me to give up my IFA status and join them. I could see no benefit for an IFA unless that IFA was close to retirement and looking at an exit in the next few years or was lazy. I can't see any reason an IFA would want to use them in their clients best interests. However, all that said, what they offer is suitable. Much in the same way SJP is suitable. You would probably say better than a bank offering but not truly IFA. Neither is an option I would want to find myself in but if you did, it would not be a wrong outcome.
Maybe a filter should be added to questions-to-ask-an-IFA. Do you use or mostly use a single investment provider/solution. If yes, then move on.
I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.