Revenues rise 80% for Frenkel Topping in 2021

Revenues increased 80% (year-on-year) to £18.4m at financial advice firm Frenkel Topping for the year ending 31 December 2021.

Profit (adjusted EBITDA) also rose 84% to £4.6m.

Pre-tax profit rose 80% to £2.7m.

Recurring revenue for the financial advice firm rose 22% to £8.9m.

Total assets rose by a third (33%) to end the year at £37.8m.

Assets on a discretionary mandate rose 28% to £676m (202: £527m).

Frenkel Topping said the three acquisitions it made over the course of last year, A&M Bacon, Partners in Costs and Bidwell Henderson, are now all fully integrated within the firm.

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The financial advice firm added that it’s latest acquisition of Cardinal Management, announced in January, is performing and integrating as planned.

Richard Fraser, CEO of Frenkel Topping, said: “Our 2021 results demonstrate the cumulative impact of clear commercial goals, a targeted acquisition strategy focused on acquiring high quality, complementary businesses with aligned values, and a desire to deliver the best possible outcomes for our underlying clients. We have developed a market-leading platform from which to offer greater breadth of services to people who have suffered significant and often life changing injuries. 

“Despite continued uncertainty in the geo-political and macroeconomic backdrop, we have achieved an increase of 84% in Adjusted EBITDA, 80% in pre-tax profit. 16% in AUM and 28% in assets on a discretionary mandate. Our client retention rate remained high at an impressive 99% which reflects our clients' trust and confidence in us to manage their money conservatively and generate returns.”

Basic earnings per share rose 72% to 2.23p and Frenkel Topping said it plans to pay total dividends for the year of 1.36p per share.

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