Frenkel Topping Group PLC Pre Close Trading Update (5994O)
31 January 2019 - 6:00PM
UK Regulatory
TIDMFEN
RNS Number : 5994O
Frenkel Topping Group PLC
31 January 2019
LEI 213800I5L3K7AT7A4R20
31(st) January 2019
Frenkel Topping Group plc
("Frenkel Topping" or the "Company")
Pre Close Trading Update
Further to the announcement on 13 November 2018, Frenkel
Topping, the specialist independent financial advisor and asset
manager focused on asset protection for vulnerable clients, is
pleased to confirm that its full year results to 31 December 2018
are in line with market expectations.
Frenkel Topping Group has performed well with assets added in
2018 having increased by 43% over those added in 2017 and, as a
result, assets under management (AUM) at 31 December 2018 increased
to GBP778m. This represents a pleasing increase on the prior year,
despite continued political uncertainty and volatile equity
markets.
Frenkel Topping's Expert Witness area is a key driver to
building a pipeline for future AUM growth. 2018 Expert Witness
Instructions increased by 30% over 2017, which has resulted in a
solid start to the Company's 2019 financial year.
The Company's 2018 AUM growth reflects the significant
investments made in its HR, marketing and IT systems in 2018,
including the Frenkel Topping Academy (the "Academy"). The Academy
is committed to the training and development of specialist
consultants, with the requisite skills to understand and manage the
complex financial affairs of vulnerable clients. The graduation of
the first tranche of consultants in 2019 will be an important
milestone for Frenkel Topping in building its talent pool and
future prospects.
Financial expectations noted above are subject to the completion
of year-end financial close and audit processes. A comprehensive
update and review with be provided with the Company's annual
results, which are expected to be announced on 10 April 2019.
Richard Fraser, Chief Executive Officer of Frenkel Topping Group
plc, said: "I am pleased to report our full-year results will be in
line with market expectations, and the new financial year has
started positively. Our recent investments in training and
development have delivered solid growth and a strong platform for
the future. Our business model remains robust, supported by a
conservative investment approach that ensures we look after the
complex needs of our clients throughout the investment cycle and
look to the future with optimism."
For further information:
Frenkel Topping Group plc www.frenkeltopping.co.uk
Richard Fraser, Chief Executive Officer Tel: 0161 886 8000
Stephen Bentley, Chief Finance Officer
Mark Holt, Group Commercial Director
FinnCap Ltd Tel: 020 7220 0500
Carl Holmes/James Thompson (Corporate
Finance)
Tim Redfern / Richard Chambers (ECM)
TB Cardew frenkeltopping@tbcardew.com
/ Tel: 020 7930 0777
Tom Allison M: 07789 998 020
Shan Shan Willenbrock M: 07775 848 537
Lucy Featherstone
About Frenkel Topping Group plc
Frenkel Topping provides specialist independent financial advice
focused on asset protection for clients. The specialist independent
financial adviser has a market leading position providing advice
and fund management services for personal injury trusts 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, London
and Leeds and has relationships and infrastructure in place to
further grow its reach and target markets.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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