The independent financial advice (IFA) unit of British wealth manager Frenkel Topping Group has established a new joint venture (JV) with law firm CFG Law.
The 50:50 JV represents the eighth initiative undertaken by Frenkel Topping in the personal injury (PI) and clinical negligence sector.
The newly created JV will operate under the name of CFG Financial Services (CFGFS).
It will provide legal and financial advice to clients who require legal help following injury, illness or clinical negligence.
With CFGFS, Frenkel Topping will serve as CFG Law’s preferred partner for customers seeking investment guidance post settlement.
CFGFS is also anticipated to provide its existing range of services to meet complicated customer requirements.
CFG Law CEO Richard Clark and executive chairman Alastair Fernie will be positioned as directors of CFGFS. They will also work with Frenkel Topping Group chief operating officer Mark Holt and chief financial officer Elaine Cullen-Grant, respectively.
Mark Holt said: “I have known and worked with the team at CFG for many years.
“Their focus on collaboration in often very complex cases makes them a stand-out player in our field of personal injury as do their standards of professionalism and client care.
“Our Working in Partnership programme is designed to create alliances between Frenkel Topping and fellow businesses in the PI and Clinical Negligence space who share the same ethos and a mutual drive to put the client first and our partnership with CFG is a perfect example of how it works to the client’s benefit.”
So far, Frenkel Topping Group has included around £68.5m of assets under management (AUM) into its portfolio through its seven previous JVs, thereby adding 16% of AUM in the past financial year.
In August 2021, Frenkel Topping announced the purchase of Bidwell Henderson Costs Consultants for £1.48m.
With the deal, Frenkel Topping aimed to fulfil its policy to follow quality opportunities, said the company.