Advice firm Frenkel Topping has partnered with a law firm specialising in personal injuries in a bid to shake up investing in the market.
In a market announcement today (February 24) the company confirmed its IFA business had agreed a 50:50 joint venture with Horwich Cohen Coghlan Ltd, in a new partnership named HCC Investment Solutions.
The joint venture will offer investment products to the personal injury market, an area which Mark Holt, managing director of Frenkel Topping, said was currently lacking.
Mr Holt said: "The investment solutions available in the personal injury market have limitations and we want to provide more choice and better quality investment options for people who have suffered accidents.
"Our partnership with HCC allows us, as part of HCC Investment Solutions, to produce innovative and tailored investment services which better suit our customers' needs."
Frenkel Topping has also backed the joint venture to support its discretionary fund manager Ascencia Investment Management, with the potential to grow its assets under management.
Brian Coghlan, director of Horwich Cohen Coghlan, said his clients, who have suffered both major and minor injuries, were "somewhat limited" in what they could invest in.
He said: "This partnership has been set up to develop bespoke and new investment solutions that will be entirely new to the personal injury market.
"Our unified capabilities mean we will be well-positioned to deliver a more compelling range of investment solutions to those who have suffered injuries."
Last week Frenkel Topping announced its joint venture with advice firm Truly Independent, in a deal which saw its discretionary fund management services offered to external IFAs for the first time.
It follows the news earlier in the month that fund manager Harwood Capital had dropped its bid to take over Frenkel Topping, despite a "preliminary approach" being made earlier in the year which could have led to a deal.
rachel.mortimer@ft.com
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