Frenkel Topping Group PLC Frenkel Topping JV with Truly Independent (1311D)
February 17 2020 - 2:00AM
UK Regulatory
TIDMFEN
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 GBP399m (as at 31 December 2018: GBP302m), 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
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)
frenkeltopping@tbcardew.com
TB Cardew
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.
About Truly Independent 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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END
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