Frenkel Topping

A Message from Lord Pickles and Lord Blunkett, followed by Frenkel Topping's best practice article

The ability to listen and learn from one another has always been vital in parliament, in business and in most aspects of daily life. But at this particular moment in time, as national and global events continue to reiterate, it is uncommonly crucial that we forge new channels of communication and reinforce existing ones. The following article from Frenkel Topping is an attempt to do just that. We would welcome your thoughts on this or any other Parliamentary Review article.

Blunkett signature Rt Hon The Lord David Blunkett, MP
Pickles signature Rt Hon The Lord Eric Pickles, MP

Highlighting best practice
CEO Richard Fraser
Giving you the right advice to
protect your financial future
Frenkel Topping is a specialist asset manager, providing
independent financial advice, wealth management and
litigation support services to safeguard the long-term
wellbeing and financial futures of people who have suffered
catastrophic injury. It completed the first ever structured
settlement in the UK in the landmark case of Kelly v Dawes, and
has been providing financial planning and asset management
advice to the legal profession for almost 40 years. CEO Richard
Fraser tells
The Parliamentary Review
Specialist in the sector
I understand personally what our clients are going through after experiencing first
hand the devastating impact a serious accident can have when my brother suffered
life-changing injuries falling from a window. As a result of his injuries, he was left
paralysed, and his life changed overnight. The injuries my brother sustained and
the impact his accident had on him and our family has given me the empathy and
understanding to know what many of our clients are going through.
Out of the blue, families are thrown into a legal quagmire dealing with solicitors,
court cases and complicated legalese as they are faced with personal injury cases
through the courts. All of this takes place while dealing with the emotional
devastation of supporting a loved one following a life-changing injury. What
happened to my brother affected me deeply and left me with a personal and
professional conviction that has resulted in me dedicating my career to supporting
people who have suffered a catastrophic injury, as well as their family and the legal
profession who represent them.
»CEO: Richard Fraser
»Commercial Director: Mark Holt
»Established in 1979
»Based in Salford, Greater
Manchester, with offices in
Birmingham, Cardiff and
»Services: Specialist IFA and
wealth management company
»No. of employees: 70
»The first ever structured
settlement in the UK, Kelly
v Dawes, was completed by
Frenkel Topping in 1989
Frenkel Topping
Several of our 70 employees have
similar stories and are drawn to
working for Frenkel Topping because
they are driven by a personal
experience. Without our strong,
experienced and approachable team,
many of whom are leaders in their
field, we would not be so progressive
and innovative in our approach.
As CEO I am immensely proud of the
specialist work we do. We provide
independent financial advice, wealth
management and litigation services to
support the long-term wellbeing and
financial futures of people who have
suffered catastrophic injury as a result
of personal injury or clinical negligence.
Embracing emotional intelligence
with solid financial planning
When someone is involved in a life-
changing event it is vital that they
get the right advice to protect their
financial future, to ensure they are not
taken advantage of or given the wrong
advice. Securing damages in the case
of these events is a complex task that
comes with enormous responsibility.
We approach financial planning in
a different way to that of traditional
independent financial advisers. We
take a “people first” approach,
handling client relationships judiciously
and empathetically – understanding
the emotional needs that our
clients and their loved ones will be
experiencing when the unexpected
strikes. As a result, our clients stay
with us, which is reflected in our
98 per cent client retention rate. By
combining emotional intelligence with
solid financial planning, we can listen,
find the right investment solutions and
make sure money lasts a lifetime.
Helping clients plan for every
Data provided by the UK Compensation
Recovery Unit (CRU) highlights that there
were 998,359 personal injury cases in
2014/15. This market is unfortunately
growing at an unprecedented rate.
Ensuring financial wellbeing in these
scenarios is paramount and we have
proven success in helping deliver this at
the pre-settlement stage. By forensically
examining various eventualities, we
ensure that our clients’ financial
futures are safeguarded, and damages
are invested for long-term growth.
Through our team of expert witnesses,
we offer a complete pre-settlement
service to our clients who are in the
process of litigation. Our specialists
provide industry-leading litigation
support, preparing schedule of losses
reports, accommodation reports and
advice on periodical payment orders
and welfare benefits. Ultimately,
they assess and advise on the
overall quantum – the amount of
compensation for personal injury.
Once claims are settled, we advise on
how damages awards can be invested
and provide continued investment and
financial advice. We also provide a
range of wealth management services
including bespoke investment portfolios,
financial and support with tax planning.
While we offer independence with
whole-of-market investment solutions,
we set up Frenkel Topping’s discretionary
fund management arm, Ascencia
Friendly, experienced
market leaders
When someone
is involved in a
event it is vital
that they get
the right advice
to protect their
Highlighting best practice
Investment Management, in 2015.
Through Ascencia we provide fit-for-
purpose solutions that offer low volatility
and low risk – which is important for our
vulnerable client group in today’s highly
volatile economic climate.
Problems facing the industry
Proposed changes to the Ogden
Discount Rate have been challenging.
The discount rate is used to calculate
the size of a lump sum damages
payment in a personal injury claim. It
is an assumption on the investment
return that can be expected on money
that is invested. Everyone agrees
that an injured person should be
compensated, but by which means
continues to cause much debate. What
is clear, though, is that the discount
rate can make a huge difference to
the amount of compensation that an
injured person receives, and to the way
that money is used.
The pending Civil Liability Bill will see
yet another rate modification. The Bill,
which the UK government introduced
last March, calls for an initial review of
the discount rate methodology and has
passed through the House of Lords.
While there is no definitive timeline
for the Bill to become law, it is likely
to happen early next year. We eagerly
await the outcome.
Our history
As the market leaders in our industry
we have come a long way since Kelly
v Dawes. During this time several
significant milestones have shaped
the business. In 2000, we became the
first IFA to be appointed by the Court
of Protection to advise on clients’
investments. In 2004, we floated on
AIM and became a public company. Our
expert witness team launched in 2012,
while 2015 saw the Frenkel Topping
Charitable Foundation established.
I am incredibly proud of the support we
receive from the Court of Protection
and legal profession and look forward
to the annual Frenkel Topping Deputy
Day. The conference provides a premier
platform for professional deputies to
come together to discuss the current
issues and hot topics in the sector.
In 2018 the business received special
recognition in the City of Manchester
Business Awards, where I was pleased
to accept the Employer of the Year
Commendation. We were shortlisted
as a result of our investment in training
and levels of staff retention – all of
which are vital for the stability and
steady growth of the business.
As we approach our 40th anniversary
in 2019, one thing has not changed:
the relationship we have with our
clients. Feelings and emotions go
a long way and we are constantly
looking to innovate and look at ways
to improve the services we provide.
damages in the
case of these
events is a
complex task
that comes
with enormous
Helping clients plan for
every eventuality
I have worked with Frenkel Topping on a number of complex cases
involving catastrophic injuries that required meticulous financial
management. They have never failed to offer accurate and helpful
advice, often under significant time restraint and pressure.”
Jane Bennet, Senior Partner, J E Bennet Law
Thanks to Frenkel Topping we were able to secure a £4.5 million
settlement for one of our clients. The funds will ensure he can
support himself for the rest of his life.”
Paul McNeil, Partner, Fieldfisher LLP

This article was sponsored by Frenkel Topping. The Parliamentary Review is wholly funded by the representatives who write for it. The publication in which this article originally appeared contained the following foreword from The Rt Hon Theresa May MP.

The Rt Hon Theresa May MP's Foreword For The Parliamentary Review

By The Rt Hon Theresa May MP

This foreword from the then Prime Minister appeared in the 2018/19 Parliamentary Review.

British politics provides ample material for analysis in the pages of The Parliamentary Review. For Her Majesty’s Government, our task in the year ahead is clear: to achieve the best Brexit deal for Britain and to carry on our work to build a more prosperous and united country – one that truly works for everyone. 

The right Brexit deal will not be sufficient on its own to secure a more prosperous future for Britain. We also need to ensure that our economy is ready for what tomorrow will bring. Our Modern Industrial Strategy is our plan to do that. It means Government stepping up to secure the foundations of our productivity: providing an education system that delivers the skills our economy needs, improving school standards and transforming technical education; delivering infrastructure for growth; ensuring people have the homes they need in the places they want to live. It is all about taking action for the long-term that will pay dividends in the future.

But it also goes beyond that. Government, the private sector and academia working together as strategic partners achieve far more than we could separately. That is why we have set an ambitious goal of lifting UK public and private research and development investment to 2.4 per cent of GDP by 2027. It is why we are developing four Grand Challenges, the big drivers of social and economic change in the world today: harnessing artificial intelligence and the data revolution; leading in changes to the future of mobility; meeting the challenges of our ageing society; and driving ahead the revolution in clean growth. By focusing our efforts on making the most of these areas of enormous potential, we can develop new exports, grow new industries and create more good jobs in every part of our country.

Years of hard work and sacrifice from the British people have got our deficit down by over three quarters. We are building on this success by taking a balanced approach to public spending. We are continuing to deal with our debts, so that our economy can remain strong and we can protect people’s jobs, and at the same time we are investing in vital public services, like our NHS. We have set out plans to increase NHS funding annually by an average by 3.4 percent in real terms: that is £394 million a week more. In return, the NHS will produce a ten-year plan, led by doctors and nurses, to eliminate waste and improve patient care.

I believe that Britain can look to the future with confidence. We are leaving the EU and setting a new course for prosperity as a global trading nation. We have a Modern Industrial Strategy that is strengthening the foundations of our economy and helping us to seize the opportunities of the future. We are investing in the public services we all rely on and helping them to grow and improve. Building on our country’s great strengths – our world-class universities and researchers, our excellent services sector, our cutting edge manufacturers, our vibrant creative industries, our dedicated public servants – we can look towards a new decade that is ripe with possibility. The government I lead is doing all it can to make that brighter future a reality for everyone in our country. 

British politics provides ample material for analysis in the pages of The Parliamentary Review 
The Rt Hon Theresa May MP
Prime Minister