Joint venture opens up investment opportunities for personal injury market

Richard Fraser

Financial services firm Frenkel Topping has created a partnership with Manchester-based solicitors Horwich Cohen Coghlan.

Frenkel Topping, the Salford-based specialist independent financial advisor and asset manager focused on asset protection for vulnerable clients, said its IFA business has established the 50:50 joint venture.

Horwich Cohen Coghlan has a 25-year track record specialising in personal injuries.

The joint venture will be named HCC Investment Solutions and will develop new and innovative investment products for the personal injury market.

The joint venture will also support Ascencia Investment Management, Frenkel Topping’s discretionary fund manager, to create bespoke investment solutions and support future assets under management (AUM) growth.

Richard Fraser, Frenkel Topping Group chief executive, said: “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.

“HCC and Frenkel Topping 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, said: “The investment solutions available in the personal injury market have limitations and we want to provide more choice and better quality investment options for people who have 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 conservatively managing client’s money and generating returns is a very strong complement to our leading position of providing legal advice to those who have 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.”

He added: “Our unified capabilities mean we will be well-positioned to deliver a more compelling range of investment solutions to those who have suffered injuries.”

This deal follows news last week that Frenkel Topping had launched a 50:50 joint venture between Ascencia Investment Management and Truly Independent, a firm of independent financial advisers, to provide discretionary fund manager services to Truly’s 50 registered individuals.

The previous week London-based financial group Harwood Capital announced it had decided not to proceed with a possible offer for Frenkel Topping.