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Frenkel Topping targets introducers for asset growth

Frenkel Topping targets introducers for asset growth

Frenkel Topping chief executive Richard Fraser expected the company's introducer model to be a key driver of future client growth for its advice business.

In its annual report for 2018, the company said "expert witness" new business, which comes through recommendations from lawyers and other trust professionals, grew by 33 per cent during the year, and was a "key pipeline" for future growth.

Mr Fraser said: "The company is in a good position as we scale up for our next period of growth. We remain focused on delivering outstanding service to our clients and sustaining our very high client retention rate, as well as consolidating our position as the UK’s leading asset manager for personal injury and clinical negligence awards.

"Current trading is encouraging and we have had a solid start to the new financial year, underpinned by recent investment and our conservative investment approach."

Assets under management for the business were £779m, a 3.6 per cent increase on the previous year, though assets in the discretionary fund management business fell to £302m from the previous £303m.  

Profits for the business were £7.7m, up from £7.3m in the previous year.

Its profits in the first half of the year were hit by an investment of £700,000 in IT, marketing and its adviser academy.

david.thorpe@ft.com