thewealthnet     About Us    |    FAQs    |    Contact Us
  Advanced Search       RSS Feed  twitter  linkedin 
Welcome to thewealthnet    |   Europe, Middle East & Africa Get The App   |   Login
  Mon 19th Mar 2018  |    Make this my homepage  
Subscribe now!
Credit Cards Accepted
World Map
Wealth manager on track to more than double trading performance from last year
14/11/2017 , News Team

Financial adviser and asset manager Frenkel Topping’s unaudited trading performance in the year to 31 October has been ahead of the same period in 2016, in line with expectations with the result for the year expected to be more than double the same period last year, according to the firm.

Though Frenkel Topping has not released specific financial information for the period following 30 June 2017, at that point in time the firm had revenue and other operating income of £3.9 million compared to £2.9 million for the same period of 2016. Meanwhile, pre-tax profit stood at £1 million compared to £0.3 million in 2016.

Frenkel Topping, which specialises in serving "vulnerable clients", noted in latest update that the performance being in line with expectations is “particularly pleasing” in a period of uncertainty around the Ogden formula, which it says has delayed decisions on a number of its clients’ cases and the aborted formal sale process consuming significant management time. Frenkel Topping’s online Ogden calculator calculates basic, variable and split period multipliers and comes as part of the firm’s basic plan.

The discount rate reduction caused a hiatus in claimants’ cases moving to settlement, as the firm expected, however the legal marketplace has become more ‘accustomed’ with the negative rate. This has resulted in a significant increase of cases starting to settle over the last few months.

Frenkel Topping’s consultants have “continued to win business and increase asset under management”, the company statement continued, as well as continuing to increase the level of funds under discretionary management, a key driver of revenues and margins for the company.

In addition, Frenkel Topping has continued to increase the number of consultants employed during the period since 30 June 2017, invested in new information technology and moved into new offices to allow the business to move forward and capitalise further on its position in the market.

Executive chairman at the firm, Paul Richardson, commented: “The performance of the company in the first ten months of this year is pleasing given the challenges faced. Since joining Frenkel Topping, I have been impressed by the quality of the team in place and the growth achieved in the current year.

“I am also very excited by the opportunity the company has to continue to grow in its current and new market sectors, leveraging off Frenkel Topping's core competency of servicing vulnerable clients.”

Frenkel Topping focuses on providing financial advice to protect assets for clients. It offers a range of wealth management services including investment portfolios, personal and corporate financial advice and tax planning. 

Share with Linkedin Share with Twitter
Poor   Average   Good   Excellent
thewealthnet archives contain 48,792 articles dating back to 1997,making it the largest single source of information on the wealth management industry world-wide. To search for more articles, please click here.


© This article originally featured on thewealthnet. It is protected by international copyright law. If you copy this article illegally, you will be liable to prosecution. All rights in and relating to this article are expressly reserved. No part of this article may be reproduced, stored in a retrieval system or transmitted in any form or by any means without written permission from the publishers.

    Latest Headlines:    by Topic | All News
  Advertise   |   Contribute   |   Press Release   |   Terms of Use   |   Privacy   |   Contact Us Copyright Pam Insight Ltd., All Rights Reserved