Frenkel Topping has revealed that it is on the hunt for acquisitions and has a new recruitment strategy.
The specialist independent financial adviser and asset manager has hired a headhunter, who is on the road looking for one-man advice firms with around £100m to 250m in assets under management, the firm tells Money Marketing.
Frenkel Topping chief Richard Fraser executive says: “We have a very clear acquisition strategy, we have a very clear thought process and idea of what we are looking for. We were talking to over 30 businesses, but we dismissed a lot of them because they don’t fit with what we are looking for.
“We are also starting to have people approach us.”
The Salford-based company specialises in looking after assets of claimants who have been awarded compensation payments through personal injury or clinical negligence, after it had also advised them on their litigation.
Apart from IFAs, Frenkel Topping is looking to increase its ranks of consultants through the Frenkel Topping Training Academy, which was launched last year.
While the program is two-years long, Fraser says two of the trainees have gained their qualifications ahead of time, and hence the company is “already seeing turn-around on that investment.”
For this year, the Academy received 250 applications for five places.
Fraser says: “We are committed to five, but as the business grows, that could grow to six, seven, eight, ten.”