Trading Update

RNS Number : 6304V

Frenkel Topping Group PLC

16 January 2013

 



16 January 2013

 

Frenkel Topping Group plc

("Frenkel Topping", "the Company" or, together with its subsidiaries "the Group")

Trading Update

Frenkel Topping, the provider of specialist independent financial advice on the investment of personal injury damages and clinical negligence awards, today releases a trading update ahead of the release of its final results announcement for the year ended 31 December 2012, which is expected towards the end of March 2013.

The Company announces that the final results for the year ended 31 December 2012 are expected to be in line with market expectations.

The successful implementation of the Group's technology platform and integrated administration software at the end of 2012 has built a strong suite of tools which fully integrate world class investment houses, allowing Frenkel Topping broader access to leading fund management products on behalf of its clients.  In addition, Frenkel Topping has continued to grow its Funds in the Investment Management Service during the period as well as increasing the number of Retail Distribution Review ("RDR") qualified authorised individuals in the Group, which the Board believes puts the Group in a robust position for the current financial year. 

David Southworth, Chairman of Frenkel Topping commented: "We are pleased to confirm that the Company's results for the full year are expected to be in line with market expectations. The Group has successfully prepared itself for the RDR, and we look forward to continuing to grow Funds in the Investment Management Service during 2013."

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For further information please contact:

Frenkel Topping Group Plc
Richard Fraser, Chief Executive	Tel: [phone]
Shore Capital
Pascal Keane / Patrick Castle	Tel:+44  (0)20 7408 4090

Media enquiries:

Abchurch
Joanne Shears / Jamie Hooper	Tel: [phone]
[e-mail]	www.abchurch-group.com

 

Notes to Editors:

About Frenkel Topping

Frenkel Topping Limited ("Frenkel Topping") is the trading subsidiary of Frenkel Topping Group Plc. 

Frenkel Topping provides specialist independent financial advice on the investment of personal injury damages and clinical negligence awards. Frenkel Topping offers a complete service for all personal injury claims handlers, lawyers and individual clients, dealing with awards from tens of thousand pounds to multi-million pound cases.  Frenkel Topping's expertise includes asset protection, bespoke investment portfolios, analysis of periodical payments, Court of Protection portfolios and provision and setting up of trustee and receivership bank accounts.  Frenkel Topping has £445 million of clients' funds in its investment management service.

Wealth Solutions provides financial planning services to the sports and entertainment sectors advising many high profile professionals.  The business is expanding into other legal disciplines whose clients profile and financial needs are aligned with the Group's core offering.

The Group's strategy is to continue to grow its Funds in Investment Management Services organically and to maintain steady levels of recurring revenues at their current high levels of circa. 70%.  The Group's strong market position and preparedness in terms of the incoming Retail Distribution Review mean that it is well poised for future growth. 

 

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