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(Sharecast News) - Financial advisor and asset manager Frenkel Topping announced on Monday that its IFA business has established a 50-50 joint venture with Horwich Cohen Coghlan (HCC), a personal injury law firm, to be named HCC Investment Solutions.
The AIM-traded firm said HCC Investment Solutions would develop "new and innovative" investment products for the personal injury market.
It said the joint venture would also support Ascencia Investment Management to create bespoke investment solutions and support future assets under management growth.
"We are very excited to be partnering with HCC, a highly regarded law firm dedicated to helping those who have suffered major trauma, serious and minor injuries," said Frenkel Topping chief executive officer Richard Fraser.
"HCC and Frenkel Topping Limited are culturally-aligned and we are both focused on putting our customers first and ensuring that they get the best services."
Mark Holt, managing director of Frenkel Topping, added that the investment solutions available in the personal injury market had limitations, with the company wanting to provide more choice and better quality investment options for people who had suffered accidents.
"Our partnership with HCC allows us, as part of HCC Investment solutions, to produce innovative and tailored investment services which better suit our customers' needs."
Brian Coghlan, director of Horwich Cohen Coghlan, said Frenkel Topping's expertise in managing client's money and generating returns was a "very strong complement" to its position of providing legal advice to those who had suffered major and minor injuries.
"We have found our clients are somewhat limited in what they can invest in and this partnership has been set up to develop bespoke and new investment solutions that will be entirely new to the personal injury market.
"Our unified capabilities mean we will be well-positioned to deliver a more compelling range of investment solutions to those who have suffered injuries."
At 1459 GMT, shares in Frenkel Topping Group were up 0.24% at 41.1p.
21 Jul 2014 07:36