Frenkel Topping Group, the specialist professional and financial services firm, has created a 50:50 joint venture (JV) between its IFA arm and law firm CFG Law.
This takes its joint ventures to eight in the personal injury and clinical negligence space.
The JV sees CFG Law, part of the Client First Group, provide services jointly with Frenkel Topping’s IFA division, under the trading name CFG Financial Services Limited (CFGFS).
Through CFGFS, Frenkel Topping will become CFG’s preferred partner for clients who require investment advice post-settlement and CFG Financial Services will extend the law firm’s suite of services to meet the needs of the most complex clients.
CFG chief executive Richard Clark and executive chairman Alastair Fernie will act as directors of the company alongside Frenkel Topping chief operating officer Mark Holt and chief financial officer Elaine Cullen-Grant.
The group’s seven other JVs have added around £68.5m ($82.5m, €80.6m) of assets under management (AuM) to the company to date, and represented 16% of AuM added in the last financial year.
Richard Fraser, chief executive of Frenkel Topping, said in a London Stock Exchange statement: “As part of our strategy to grow our core business, Frenkel Topping Limited, we are formalising our relationships with high calibre firms who share our client-first mentality.
“Joint ventures like this one expand our network of new business referrers and demonstrate our commitment to innovate and enhance our services, ultimately supporting our objective to increase shareholder value.”
