You may have heard about the partnerships – or ‘joint ventures’ – Frenkel Topping have created with law firms in the Personal Injury space. We are very proud of our JVs and at hitting the milestone of 10 partnerships in recent weeks.
However, I’ve become very conscious of the misconceptions that exist around how a Frenkel Topping joint venture works and what it means for the injured client. It’s in my nature – and in Frenkel Topping’s DNA – to provide clarity and reassurance where confusion exists so I am keen to use this opportunity to explain the strategic merits of our collaborative ventures and to dispel any mistruths.
Put simply, these collaborations significantly benefit not just our company but, more importantly, our professional clients and the injured individuals they serve.
Continuation of Service and Familiarity
The law firms we work with excel at providing legal guidance to individuals after life-changing injury. They recognise the impact on mental health and wellbeing, on relationships and they consider the whole person rather than just a legal case file. Therefore it’s natural for the most high calibre of firms to want to support their clients beyond their settlement and into the financial planning landscape. By forming a Joint Venture with Frenkel Topping, we are able to provide a continuation of the service and approach they have become used to during litigation into the next stage of their journey post-settlement. Our partnerships allow for a comprehensive, familiar and reliable end-to-end solution for clients, from case settlement to life-long financial security.
With over 40 years’ experience as an IFA working closely with the country’s top-tier law firms in personal injury and clinical negligence, a partnership with us forms a potent alliance and guarantees the end client continues to receive specialist care. We all know that life after settlement comes with complications and the benefits of specialist advice over generalist advice are many.
No 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! 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.
No Conflicts, Just Shared Goals
There are questions about whether this creates a conflict of interest. Simply put, it doesn’t. We are all in this to achieve one thing: the absolute best outcome for our clients. When everyone’s goal is the same, there’s no conflict of interest.
The Value Add
A Frenkel Topping Joint Venture isn’t just about legal and financial advice. We look at the bigger picture: overall financial wellbeing. Joint Venture clients have access to the myriad additional services from the Frenkel Topping Group to support them in their lifelong financial health including tax returns and welfare benefits advice. We’re focused entirely on making money management easy and stress free.
Navigating the Investment Landscape
Frenkel Topping Group is widely regarded as the pre-eminent provider of professional services in our sector – including financial expert witness, independent financial advice and in-house discretionary fund management (DFM)
Frenkel Topping’s in-house DFM, Ascencia, operates from a unique vantage point within a parent group specialising in personal injury advice. Their investment managers understand that clients’ funds must last a lifetime therefore their portfolios focus on protecting the downside and taking an agile and pro-active approach to capitalise on the upside when it comes. Ascencia funds have out-performed against all relevant indices including ARC in recent years.
I hope the above goes some way to explain how a Frenkel Topping Joint Venture is a strategic partnership that is focused on service, not just about increasing profits. It’s a carefully planned approach designed with you and your clients in mind. It’s about providing an integrated, stress-free, and consistently extraordinary service.
If you still have questions or challenges, I’d genuinely love to hear them. As successful as our joint ventures are – for our law firm partners and their clients – we always want to improve so I’d welcome a conversation.
– Mark Holt, MD Frenkel Topping