Frenkel Topping seals partnership with top claims firm
Manchester-headquartered Frenkel Topping, which provides wealth management support for accident victims, has agreed another new 50:50 joint venture between its financial advice arm and a law firm, this time with Hodge, Jones & Allen.
As part of a 5 year strategy to grow the AIM-listed business, similar partnerships with other 8 other claims firms has added £32.7m to their assets under management, roughly a quarter of all assets the company manages.
The joint venture will trade as HJA Financial Management Services with Hodge, Jones & Allen Partner Chun Wong and Finance Director Judy Hardy acting as directors alongside chief operating officer, Mark Holt and chief financial officer, Elaine Cullen-Grant from Frenkel Topping.
Mark Holt said: “Our Working in Partnership programme is designed to create alliances between Frenkel Topping and stand out firms in the Personal Injury and Clinical Negligence space who share the same ethos and a mutual drive to achieve the right outcomes in litigation and beyond settlement. Our partnership with Hodge Jones & Allen is an excellent illustration of how collaborative partnerships can bring significant advantages to our clients.”
Chun Wong, Partner at Hodge, Jones & Allen, said: “Working collaboratively with leading experts is important for us as we understand the complexities and far- reaching impact on peoples’ lives following a serious and catastrophic injury. Our joint venture with Frenkel Topping will allow us to offer an even broader range of services to our clients and retain our focus on delivering excellence in client care throughout each case and beyond.”
Earlier this year Mark Holt wrote to clients reassuring them that these deals were not a precursor to fee hikes: “I’m grateful for a member of my network sharing the feedback that there is an assumption that a joint venture equates to a hike in fees. That’s simply not the case!” he said.
“Frenkel Topping is fair and transparent in the creation of its fee structure which is the same regardless of how our services are requested – via a joint venture or otherwise. By working in partnership with our JV law firms, they are able to provide an extension of their service, we are able to support the client into their financial planning journey, and the client continues to receive specialist and tailored guidance from a prestigious and respected firm in the personal injury space.”