Edmans, who holds a CBE for services to pensions reform during his eight-year stint at the regulator, will take an active role at assisting True Potential in its ongoing growth strategy.
The company, which consists of True Potential Investments, True Potential Wealth Management and True Potential Adviser Services, posted a 47% increase in net profit to £5.3m in January. It had a turnover of £27.5m in 2013.
The company’s growth was largely accredited to a 255% increase in adviser numbers in its wealth management advisory business in the last year.
The company, which provides support services to about 22% of the UK financial adviser market, has a business model based heavily on technology.
True Potential managing partner David Harrison said the company will benefit from Edmans’ track record as a non-executive chairman and his experience with building positive relations with government, consumer groups and financial services trade organisations.
“[Edmans’] experience fits with our intention to democratise finance using technology and scale to bring benefits to all our clients,” he added.
Edmans is currently also chairman of Marine & General Mutual and Trinity Mirror Pension Plan Trustees, and a non-executive director of the MAS.
He is also a Trustee of the National Employment Savings Trust (NEST) where he will be standing down in late March.
He said: “I firmly believe that non-executives must go beyond a standard monitoring role and, instead, help executives deliver strong results. I’m delighted to join this growing group of companies that is using technology to help revolutionise the industry and change the way wealth management is delivered to clients.”
True Potential Investments appointed former Platforum head of adviser relations Emma Napier as head of distribution last December.
She was brought in to drive what the firm said were its “ambitious” growth plans for its wealth platform business.
