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RCS - Frenkel Topping Grp - Frenkel Topping JV with Truly Independent

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RNS Number : 1311D  Frenkel Topping Group PLC  17 February 2020

LEI 213800I5L3K7AT7A4R20

 

 

Frenkel Topping Group plc

("Frenkel Topping" or the "Company")

 

Frenkel Topping establishes Joint Venture with Truly Independent

Ascencia extends DFM services to external IFAs with its first partnership

Frenkel Topping, the specialist independent financial advisor and asset
manager focused on asset protection for vulnerable clients, is pleased to
announce it has established a 50:50 joint venture between Ascencia Investment
Management ("Ascencia"), the Company's  Discretionary Fund Manager (DFM) and
Truly Independent Ltd ("Truly"), a firm of Independent Financial Advisers (the
"Joint Venture"). The Joint Venture will be named Truly Asset Management.

As part of the Joint Venture, Ascencia will provide DFM services to Truly's 50
Registered Individuals and thereby, for the first time, will broaden its DFM
distribution to external IFAs. The Company expects this partnership will
support the growth of its future AUM.

Ascencia was launched in 2016 and over the last three years it has provided
Frenkel Topping's own advisers with DFM services and performed positively. For
the year ended 31 December 2019, Ascencia delivered a robust performance and
assets were up strongly by 31% to £399m (as at 31 December 2018: £302m),
reflecting confidence in its investment stewardship.

Richard Fraser, CEO of Frenkel Topping, said:

"We are delighted to have established a joint venture with Truly Independent,
a business with a strong 10 -year track record, national presence and a firm
commitment to putting customers first. Ascencia has gone from strength to
strength, delivering positive performances over the last three years and has
demonstrated it can generate real yield, which is particularly important if
clients are in draw down. Broadening our DFM distribution to the external IFA
marketplace is in line with our strategy and a logical next step to take
Ascencia to the next stage of growth."

Andrew Goodwin, CEO of Truly Independent, said:

"We are excited to be working with Frenkel Topping. We share the same values
and ethos of placing customers and their interests at the heart of everything
we do. Ascencia's positive performances, ability to generate real yield,
together with a positive approach to ethical investing were key considerations
in choosing them as partners. Working with Ascencia and adding DFM to our
offering, Truly Asset Management will be able to expand the range of highly
secure and price-conscious services we can offer, while at the same time
supporting our ambitions of growing the business."

For further information:

 Frenkel Topping Group plc                       www.frenkeltopping.co.uk (http://www.frenkeltopping.co.uk/)
 Richard Fraser, Chief Executive Officer         Tel: 0161 886 8000

 finnCap Ltd                                     Tel: 020 7220 0500
 Carl Holmes/James Thompson (Corporate Finance)

 Tim Redfern / Richard Chambers (ECM)

                                                 frenkeltopping@tbcardew.com (mailto:frenkeltopping@tbcardew.com)

 TB Cardew
 Tom Allison                                     0207 930 0777

 Shan Shan Willenbrock

 Olivia Rosser

 

About Frenkel Topping: www.frenkeltopping.co.uk
(http://www.frenkeltopping.co.uk/)

Frenkel Topping provides specialist independent financial advice focussed on
asset protection for clients. The specialist independent financial adviser has
a market leading position providing advice and fund management services for
personal injury and clinical negligence awards and is well placed to provide
services to a wider customer base.

The Company provides a range of wealth management services including bespoke
investment portfolios, personal and corporate financial advice and tax
planning. It is focused on increasing its assets under management by continued
growth of the business by an increase in the number of highly qualified fee
earners for the provision of its industry leading specialisms.

It has a national presence with offices in Manchester, Birmingham, Cardiff and
London and has relationships and infrastructure in place to further grow its
reach and target markets.

About Truly Independent https://trulyifa.co.uk/ (https://trulyifa.co.uk/)

Founded in 2010, Truly Independent is a firm of experienced independent
financial advisers who provide financial planning advice to clients throughout
the UK. The company believes that everyone should have access to financial
advice that is not governed or influenced by others and it recognises the
importance of providing long-term assistance and guidance, working in
partnership with their clients to meet financial aspirations. Truly
Independent has the knowledge, experience and expertise to provide
unconflicted advice in order to protect and enhance its client's wealth and
sense of well-being.

 

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rns@lseg.com (mailto:rns@lseg.com)
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.   END  NRATAMTTMTTBBBM

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