FEN Announces Joint Venture with Lime Solicitors
31 July 2023
RNS REACH
Frenkel Topping Group plc
("Frenkel Topping" or the "Company" or the "Group")
Frenkel Topping Partnership Programme Grows with Lime Solicitors Joint Venture
Frenkel Topping Group plc (AIM: FEN), a specialist professional and financial services firm operating in the Personal Injury (PI) and Clinical Negligence (CN) space, is pleased to announce it has extended its 'Working in Partnership' programme with a 50:50 joint venture (JV) between its IFA arm and Lime Solicitors ("Lime"), reaching double digits in partner firms and expanding its work with the country's top-tier law firms.
The Group's 'Working in Partnership' programme has nurtured strong relationships in recent years with law firms who share the focus on 'the whole client' and recognise the importance of collaboration between key services and all affected parties after a life-changing injury. The Group now has 10 JVs with leading law firms. Over the financial year ending 31December 2022 the total AUM added from Frenkel Topping's JV partners was £32.7m which represents c.25% of total AUM added during the year. Mutually beneficial JVs is a core component of Frenkel Toppings five year growth strategy and the Company continues to work on further similar opportunities.
The joint venture sees Lime Solicitors, ranked in the Chambers Guide to the legal profession and in the Legal 500 as experts in their field, join with Frenkel Topping's independent financial advice division, to provide services under the trading name Lime Wealth Management Limited.
Part of Shakespeare Martineau LLP, one of the 55 largest law firms in the country, Lime operates nationwide and specialises in personal injury, medical negligence inheritance disputes, power of attorney and deputy disputes and professional negligence issues.
Two senior partners at Lime, Tony Hannington and Mark Beesley will act as directors of the JV company alongside Chief Operating Officer, Mark Holt and Chief Financial Officer, Elaine Cullen-Grant from Frenkel Topping.
With the aim of delivering both a seamless legal and financial advice journey to clients involved in litigation after serious injury, the new joint venture combines the two firms' skills and resources in the specialist area of professional services.
Lime Solicitors is the latest partnership in Frenkel Topping's strategy to strengthen relationships with likeminded firms in the PI Injury and CN space and to help introduce Assets Under Management to the Group via its discretionary fund manager (DFM), Ascencia Investment Management.
Mark Holt, Chief Operating Officer of Frenkel Topping Group, said:
"We have partnered with one of the most high calibre firms in our field in our tenth joint venture with Lime. Tony and his team have an incredible amount of expertise and experience and understand the real impact of significant injury on daily life.
"Our Working in Partnership programme is designed to create alliances between Frenkel Topping and stand out firms in the Personal Injury and Clinical Negligence space who share the same ethos and a mutual drive to achieve the right outcomes in litigation and beyond settlement. Our partnership with Lime is another fantastic example of how complementary joint ventures work to the client's benefit."
Tony Hannington, Head of Lime Solicitors, said:
"Not only is it hugely important to us that our clients receive the best rehabilitative care through trusted health care providers, but it's also crucial they are supported by the best financial planning advice. Many of our clients are not experienced in investing or managing large sums of money which are often required to fund significant future care costs for the rest of their lives and it can be a daunting prospect as they consider their future, following an accident or injury that wasn't their fault.
"Lime have signposted clients for such specialist advice for a number of years and after discussions with Frenkel Topping over several months, we knew that they were the right business for us to join forces and bring our respective strengths together for the benefit of our clients."
Richard Fraser, CEO of Frenkel Topping, said:
"As part of our strategy to grow our core business, Frenkel Topping Limited, we are formalising our relationships with high calibre firms, like Lime Solicitors, who share our client-first mentality. Joint ventures like this one expand our network of new business referrers and demonstrate our commitment to innovate and enhance our services, firstly to benefit our clients and then to support our objective to increase shareholder value."
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finnCap Ltd |
Tel: 020 7220 0500 |
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Carl Holmes/Abigail Kelly/Milesh Hindocha (Corporate Finance) Tim Redfern / Charlotte Sutcliffe (ECM) |
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About Frenkel Topping Group
The Frenkel Topping Group of companies specialises in providing financial advice and asset protection services to clients at times of financial vulnerability, with particular expertise in the field of personal injury (PI) and clinical negligence (CN).
For more than 30 years the Group has worked with legal professionals and injured clients themselves to provide pre-settlement, at-settlement and post-settlement services to help achieve the best long-term outcomes for clients after injury. It boasts a client retention rate of 99%.
Frenkel Topping Group is focused on consolidating the fragmented PI and CN space in order to provide the most comprehensive suite of services to clients and deliver a best-in-class service offering from immediately after injury or illness and for the rest of their lives.
The Group's services include the Major Trauma Signposting Partnership service inside NHS Major Trauma Centres, expert witness, costs, tax and forensic accountancy, independent financial advice, investment management, and care and case management.
The Group's discretionary fund manager, Ascencia, manages financial portfolios for clients in unique circumstances, often who have received a financial settlement after litigation. In recent years Ascencia has diversified its portfolios to include a Sharia-law-compliant portfolio and a number of ESG portfolios in response to increased interest in socially responsible investing (SRI).
Frenkel Topping has earned a reputation for commercial astuteness underpinned by a strong moral obligation to its clients, employees and wider society, with a continued focus on its Environmental, Social and Governance (ESG) impact.
For more information visit: www.frenkeltoppinggroup.co.uk
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