Frenkel Topping Group PLC Pre Close Trading Update (5994O)

TIDMFEN

RNS Number : 5994O

Frenkel Topping Group PLC

31 January 2019

LEI 213800I5L3K7AT7A4R20

31(st) January 2019

Frenkel Topping Group plc

("Frenkel Topping" or the "Company")

Pre Close Trading Update

Further to the announcement on 13 November 2018, Frenkel Topping, the specialist independent financial advisor and asset manager focused on asset protection for vulnerable clients, is pleased to confirm that its full year results to 31 December 2018 are in line with market expectations.

Frenkel Topping Group has performed well with assets added in 2018 having increased by 43% over those added in 2017 and, as a result, assets under management (AUM) at 31 December 2018 increased to GBP778m. This represents a pleasing increase on the prior year, despite continued political uncertainty and volatile equity markets.

Frenkel Topping's Expert Witness area is a key driver to building a pipeline for future AUM growth. 2018 Expert Witness Instructions increased by 30% over 2017, which has resulted in a solid start to the Company's 2019 financial year.

The Company's 2018 AUM growth reflects the significant investments made in its HR, marketing and IT systems in 2018, including the Frenkel Topping Academy (the "Academy"). The Academy is committed to the training and development of specialist consultants, with the requisite skills to understand and manage the complex financial affairs of vulnerable clients. The graduation of the first tranche of consultants in 2019 will be an important milestone for Frenkel Topping in building its talent pool and future prospects.

Financial expectations noted above are subject to the completion of year-end financial close and audit processes. A comprehensive update and review with be provided with the Company's annual results, which are expected to be announced on 10 April 2019.

Richard Fraser, Chief Executive Officer of Frenkel Topping Group plc, said: "I am pleased to report our full-year results will be in line with market expectations, and the new financial year has started positively. Our recent investments in training and development have delivered solid growth and a strong platform for the future. Our business model remains robust, supported by a conservative investment approach that ensures we look after the complex needs of our clients throughout the investment cycle and look to the future with optimism."

For further information:

 
 Frenkel Topping Group plc                  www.frenkeltopping.co.uk 
  Richard Fraser, Chief Executive Officer    Tel: [phone] 
  Stephen Bentley, Chief Finance Officer 
  Mark Holt, Group Commercial Director 
 
   FinnCap Ltd                                Tel: [phone] 
   Carl Holmes/James Thompson (Corporate 
   Finance) 
   Tim Redfern / Richard Chambers (ECM) 
 TB Cardew                                  [e-mail] 
                                             / Tel: [phone] 
  Tom Allison                                M: 07789 998 020 
  Shan Shan Willenbrock                      M: 07775 848 537 
  Lucy Featherstone 
 

About Frenkel Topping Group plc

Frenkel Topping provides specialist independent financial advice focused on asset protection for clients. The specialist independent financial adviser has a market leading position providing advice and fund management services for personal injury trusts and clinical negligence awards and is well placed to provide services to a wider customer base.

The Company provides a range of wealth management services including bespoke investment portfolios, personal and corporate financial advice and tax planning. It is focused on increasing its assets under management by continued growth of the business by an increase in the number of highly qualified fee earners for the provision of its industry leading specialisms. It has a national presence with offices in Manchester, Birmingham, Cardiff, London and Leeds and has relationships and infrastructure in place to further grow its reach and target markets.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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January 31, 2019 02:00 ET (07:00 GMT)