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Frenkel Topping chair: why we are going it alone after sale attempt

AIM-listed national IFA Frenkel Topping, said the company did not sell as planned last year because it realised it could go it alone and still grow the business.

Paul Richardson, who joined the firm as executive chairman in October last year, explained why the company gave up on the sale process it had publicly launched in April 2017.  

‘It had these inherent qualities within it and it actually did not need to find a strategic partner. With the right strategy and the right process around it, we could grow the business ourselves.

The IFA specialises in advising clients who have received personal injury pay-outs. It announced in December 2017 it was expanding its proposition to target clients who have come in to large sums to invest, following a divorce or a sold business, through a new firm called Obiter Wealth Management.

Richardson also explained how needing a ‘unique breed’ of advisers who can deal with vulnerable clients as well as hold their own in court when being cross-examined as expert witnesses has led the firm's decision to ‘home-grow’ advisers.

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