Last checked at 19 May 2015 07:00
19 May 2015
Frenkel Topping Group plc
("Frenkel Topping" or "the Company")
AGM Statement
Frenkel Topping (AIM:FEN), a leading provider of specialist independent financial advice on the investment of personal injury damages and clinical negligence awards, will be holding its Annual General Meeting in Manchester at 10am today.
At the meeting, David Southworth, Chairman of the Frenkel Topping, will make the following statement:
The current year has started well, with trading in line with expectations, as the Company focused on its stated objective of growing its geographic reach.
Since the year-end we have added 2 fee earners, taking the total to 16, compared to 14 as at 31 December 2014. AUM has grown to approximately £640m during the first quarter, compared to £619m at the year end. As per our stated objective we expect recent hires to generate increases in AUM and recurring investment revenues as they develop their operations in 2016 and onwards.
We now have an established presence in Manchester, London, Birmingham, Leeds, Cardiff and Bristol. The regional expansion across England and Wales continues to develop as planned and, as previously stated, is expected to deliver accelerated growth from 2016 onwards.
Earlier this month we held an extremely successful Deputy Day in London, for Court of Protection specialists and experts, looking at the need to ensure freedom of choice, trust and effective decision making for clients. We will continue to host events aimed at further strengthening our relationships with advisers as we build on the progress we have made to date this year.
Our underlying fundamentals remain strong with a 99% client retention rate for our Investment Management Services providing high levels of revenue visibility, helping to underpin continued profitability and cash generation.
For further information:
Frenkel Topping Group Plc | www.frenkeltopping.co.uk |
Richard Fraser, Chief Executive | Tel: 0161 886 8000 |
Julie Dean, Finance Director |
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Shore Capital |
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Pascal Keane / Patrick Castle | Tel: 020 7408 4090 |
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Walbrook PR Ltd | Tel: 020 7933 8780 or frenkeltopping@walbrookpr.com |
Paul McManus | Mob: 07980 541 893 |
Nick Rome | Mob: 07748 325 236 |
About Frenkel Topping: www.frenkeltopping.co.uk
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 a few thousand pounds to multi-million pound cases. The Company is a well recognised provider of expert witness reports in these cases and is then able to offer financial advice following settlement of the claim.
The Company'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.