Bringing you live news and features since 2006 

Frenkel Topping establishes Joint Venture with Truly Independent

RELATED TOPICS​

Frenkel Topping, a specialist independent financial advisor and asset manager focused on asset protection for vulnerable clients, has established a 50:50 joint between its discretionary fund manager (DFM) Ascensia Investment Management (Asencia) and Truly Independent, a firm of independent financial advisers.As part of the joint venture, which will be named Truly Asset Management, Ascencia will provide DFM services to Truly’s 50 Registered Individuals and thereby, for the first time, will broaden its DFM distribution to external IFAs. The Company expects this partnership will support the growth of its future AUM. 

Ascencia was launched in 2016 and over the last three years it has provided Frenkel Topping’s own advisers with DFM services and performed positively. For the year ended 31 December 2019, Ascencia delivered a robust performance and assets were up strongly by 31 per cent to GBP399 million (as at 31 December 2018: GBP302 million), reflecting confidence in its investment stewardship. 

Richard Fraser, CEO of Frenkel Topping, says: “We are delighted to have established a joint venture with Truly Independent, a business with a strong 10 -year track record, national presence and a firm commitment to putting customers first. Ascencia has gone from strength to strength, delivering positive performances over the last three years and has demonstrated it can generate real yield, which is particularly important if clients are in draw down. Broadening our DFM distribution to the external IFA marketplace is in line with our strategy and a logical next step to take Ascencia to the next stage of growth.” 

Andrew Goodwin, CEO of Truly Independent, says: “We are excited to be working with Frenkel Topping. We share the same values and ethos of placing customers and their interests at the heart of everything we do. Ascencia’s positive performances, ability to generate real yield, together with a positive approach to ethical investing were key considerations in choosing them as partners. Working with Ascencia and adding DFM to our offering, Truly Asset Management will be able to expand the range of highly secure and price-conscious services we can offer, while at the same time supporting our ambitions of growing the business.” 
 

Latest News

Figment Europe, a provider of institutional staking infrastructure, writes that it is solidifying its presence in the heart of Europe’s..
Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..

Related Articles

Ryan McCormack, Invesco
This year sees the 25th anniversary of Invesco’s QQQ, the USD240 billion ETF – the fifth largest ETF in the...
ETFs
The European ETF market achieved a record 28 per cent growth – reaching over USD1.8 trillion assets under management (AUM)...
Sal Esposito, Zacks Investment Management
Zacks Investment Management started doing investment research in 1978 and in 1992 started its investment management arm, initially with SMAs...
Jeremy Senderowicz, Vedder Price
Jeremy Senderowicz, a member of the Investment Services Group at law firm Vedder Price, has witnessed a steady upswing in...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by