Frenkel Topping launches joint venture with Aspire charity

(Sharecast News) - Specialist independent financial advisor Frenkel Topping has established a joint venture with Aspire - a national charity that provides practical help to people who have been paralysed by spinal cord injury - it announced on Monday.
The AIM-traded firm said the joint venture would be named 'Aspire+ Wealth Management'.

It said that through Aspire+, it would become the preferred partner to provide Aspire's service user base with post-settlement investment advice, which it described as an "often-essential service" after a life-changing event.

Aspire estimated that in 2019, 16% of people who suffered spinal injuries received compensation, with amounts ranging from £0.5m to £5m.

The average age of a person paralysed by spinal cord injury was currently 55, meaning receiving sound financial advice to ensure people had sufficient funds to provide for their care and can lead fulfilling lives, was "paramount".

Frenkel Topping said it would receive 40% of profits, with 60% going back to Aspire.

"Innovation has always been at the core of Frenkel Topping," said managing director Mark Holt.

"We look for opportunities to improve outcomes for our clients and for the wider community of people who are living with life-changing injuries."

Holt said the partnership with Aspire would allow the company to do that in a number of ways.

"We share the same values and look forward to bringing our services together to reach more people in an impactful way."

At 1159 BST, shares in Frenkel Topping were down 4.35% at 44p.