Frenkel Topping has agreed a joint venture with a Manchester-based law firm as it looks to expand its client base and boost its assets under management.
In an update today (June 8) the company announced its IFA arm had agreed a 50:50 joint venture with personal injury specialists Express Solicitors in a deal which will see it provide post-settlement advice to clients.
Frenkel Topping specialises in asset protection for clients who have been awarded compensation payments and the joint venture is the latest in a string of deals agreed this year as the firm doubles down on plans to expand its client base.
The joint venture will be named ExpressFT Limited and provide post-settlement advice to clients of the law firm who have suffered from personal injury and clinical negligence.
Mark Holt, managing director of Frenkel Topping Limited, said: "The ability to offer life after settlement advice through ExpressFT will support our growth strategy by expanding the client base and building Aum.
"We are delighted that Express Solicitors chose Frenkel Topping as its partner of choice in this new venture."
It has already been a busy year for Frenkel Topping, which in February partnered with a law firm specialising in personal injuries in a bid to shake up investing in the market.
In the same month it agreed a joint venture with an advice firm in a deal which would see its discretionary fund management services offered to external IFAs for the first time.
James Maxey, managing partner of Express Solicitors, said: "We’ve recommended clients to Frenkel Topping for many years, in cases where they would benefit from the specialist investment advice provided.
"Frenkel Topping are very clearly focused on the needs of injury victims and have a similar culture and philosophy to our own."
Last month Richard Fraser, group chief executive of Frenkel Topping, said the company would be using the lockdown period to focus its digitalisation efforts, with plans to launch a client-facing app later this year.
The advice firm administers about 2000 withdrawals a year for its clients, something which the app is expected to speed up and make more efficient.
rachel.mortimer@ft.com
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