Frenkel Topping Group PLC Frenkel Topping comment re: Ogden rate
July 15 2019 - 9:14AM
RNS Non-Regulatory
TIDMFEN
Frenkel Topping Group PLC
15 July 2019
LEI 213800I5L3K7AT7A4R20
Frenkel Topping Group plc
("Frenkel Topping" or the "Company")
Frenkel Topping comment re: Ogden rate
Frenkel Topping, the specialist independent financial advisor
and asset manager focused on asset protection for vulnerable
clients, notes the statement from the Lord Chancellor to lay a
Statutory Instrument in Parliament to change the discount rate
applicable to personal injury lump sum compensation payments
("Ogden Rate"), to minus 0.25%.
As previously indicated at the Company's Final results in April
2019, the change in the Ogden rate is not predicted to have a
significant impact on Frenkel Topping. The Company views the change
as an opportunity for potential clients and solicitors to seek its
expertise.
Richard Fraser, Chief Executive Officer of Frenkel Topping
said:
"We acknowledge today's announcement from the Lord Chancellor,
setting the discount rate at a level which recognises that
claimants should receive appropriate amounts of compensation,
particularly in a low interest rate market. Our conservative
investment approach means we are well-positioned to provide for
clients who require more specialist care and advice."
Mark Holt, Managing Director of Frenkel Topping said:
"So many of our clients who have suffered life-changing injuries
are low risk investors who are in financial drawdown from the
moment they receive their compensation, and we reiterated this
point with the Ministry of Justice during the consultation process.
Our clients remain at the very heart of everything we do and we
have an important role to play in ensuring their money is invested
appropriately and that it lasts a lifetime."
For further information:
Frenkel Topping Group plc www.frenkeltopping.co.uk
Richard Fraser, Chief Executive Tel: 0161 886 8000
Officer
finnCap Ltd Tel: 020 7220 0500
Carl Holmes/James Thompson
(Corporate Finance)
Tim Redfern / Richard Chambers
(ECM)
TB Cardew frenkeltopping@tbcardew.com
Tom Allison
Shan Shan Willenbrock
Olivia Rosser 0207 930 0777
About Frenkel Topping: 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.
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END
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