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July 23, 2020

Wealth manager Frenkel Topping raises £13m in share placing

Wealth manager Frenkel Topping has raised £13m through an oversubscribed placing as it eyes consolidation in the pre-settlement professional services market through acquisitions that have synergies in the personal injury (PI) and clinical negligence (Clin Neg) space.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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According to a stock exchange filing, the firm placed 32,500,000 new ordinary shares, issued at 40 pence a share.

Using the proceeds, the firm intends to become a market leader in delivering a full service offering, mainly in PI and Clin Neg.

Frenkel Topping CEO Richard Fraser said: “This is an exciting time for Frenkel Topping and today’s Placing is a transformative step towards achieving our ambition of becoming the market leader in the PI and Clin Neg marketplace, where we have more than 40 years of expertise.

“The net proceeds of the Placing and the Acquisition of Forths builds on our strong organic growth as we become the largest independent provider of financial expert witness reports to the claimant marketplace. We have known Forths for many years and not only is this business a good strategic fit, our discussions have shown we have similar cultures with a shared customer centric ethos.

“Looking ahead, the Placing enables us to capitalise on the significant opportunities available, to acquire pre-settlement professional services business in the PI and Clin Neg markets and provide claimants with a full-service offering.”

Meanwhile, Frenkel Topping wrapped up the takeover of forensic  accountancy firm Forth Associates.

Forth has offices in Manchester as well as Leeds.

The purchase is said to enable Frenkel Topping to become the largest independent provider of financial expert witness reports to the claimant market.

Earlier this year, Frenkel Topping, through its discretionary fund management (DFM) unit Ascencia Investment Management, formed an equal stake joint venture with IFA firm Truly Independent.

 

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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