Business
Strategic Update
Strategic Update.
About this update from Frenkel Topping Group Plc
[{"type":"text","content":"\n \nRNS Number : 8589Z Frenkel Topping Group PLC 20 December 2017 \n\nFrenkel Topping Group plc\n(\"Frenkel Topping\" or \"the Company\")\nStrategic Update\nFrenkel Topping (AIM: FEN), a specialist independent financial advisor and asset manager focused on asset protection for vulnerable clients, provides a strategic update for the group.\nSince the changes to the executive team during the last few months, the Board has undertaken a detailed review of the Company's activities and competitive advantages. As a result of this, the Directors of the Company believe that the potential addressable market available to the Company is broader than that which the Company has historically targeted, being a focus on medical negligence or personal injury cases. As a result of this, the Board has made investments in the Company's cost base to reflect a restructuring of the Company along the following core business lines:\n1. Continuing to offer expert witness and Independent Financial Advice to clients who have suffered personal injury or medical negligence claims as the established market leader.\n \n2. Frenkel Topping Investment Management Limited (\"FTIM\") continues to offer low risk investment products that are designed to preserve our clients' assets but also offers higher return products that are more exposed to equities. The Company will continue to seek to expand FTIM's offering beyond the current three core portfolios offered and will seek to expand FTIM's services to a wider audience.\n \n3. A recently launched new business, Obiter Wealth Management Limited (\"Obiter\"). This division will offer financial advice to clients who are in receipt of large lumps sums that they need to invest. These clients may include the former owners of family businesses that they have recently sold, divorcees, retirees who are in receipt of a large lump sum or may need to invest their pension pot to provide income in retirement and charities who need to invest in very safe assets.\nIn order to permit the growth in the Company's existing business and the new activities referred to above, the Company has increased its cost base slightly this year and will continue to do so in 2018 and beyond. This will allow investments in information technology, compliance, marketing and additional h...