Frenkel Topping Group

What Frenkel Topping Group does

Frenkel Topping Group Plc is a UK-listed specialist financial and professional services group headquartered in Salford, Manchester, focused on supporting individuals and families after life-changing personal injury and clinical negligence events. The group operates as a six-pillar platform of 14+ wholly-owned subsidiaries spanning expert witness reporting (Forths, Somek & Associates, Keystone, N-Able), legal costs consulting (Partners In Costs, Bidwell Henderson, A&M Bacon), independent financial advice (Frenkel Topping IFAs, Obiter Wealth Management, Forte), discretionary fund management (Ascencia Investment Management), case management and signposting (Cardinal Management's MTSP in 12 NHS Major Trauma Centres), and a charitable foundation. Technology is centred on Ascencia's managed portfolio investment platform, which held £1.80bn in funds under management at FY2025, alongside expert witness report production and APIL-accredited training delivered through the Knowledge Hub academy.

The group's revenue model combines subscription-style recurring revenues from FUM fees (£15.9m in FY2025, up 19%) with project-based professional services income from expert witness reports, legal costs drafting, case management, and financial planning. Distribution is B2B-direct to UK law firms and solicitors, augmented by formal joint venture partnerships with law firms and IFAs, and NHS partnerships through Cardinal Management. FY2025 reported revenue of £41.7m (up 11.5% from £37.4m), profit before tax of £5.2m, and a 99% client retention rate across the core Frenkel Topping Limited advisory business. The company is currently the subject of an acquisition by Irwell Financial Services Bidco (Project Pink), with court sanction of the scheme and FCA condition satisfaction completed in 2026, positioning the group for ownership transition after a multi-year buy-and-build strategy that consolidated the UK personal injury and clinical negligence professional services market between 2021 and 2022.

Name

Frenkel Topping Group

Legal name

Frenkel Topping Group Plc

Website

https://frenkeltoppinggroup.co.uk

Company type

Public

Founded year

1991

Operating status

Operating

Headcount range

51–100 employees

Short description

Frenkel Topping Group is a UK-listed specialist financial and professional services group supporting personal injury and clinical negligence claimants through expert witness reports, legal costs, IFA services, and £1.80bn of managed investment assets, serving law firms, NHS major trauma centres, and individual settlement recipients.

Ownership category

akta.pro rank

Product category

Legal & Financial Advisory Services for Personal Injury Claimants

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Management Consulting Services (54161)

SIC

Investment Advice (6282), Services-Management Consulting Services (8742)

akta.pro primary industry

Managed Platforms & Wrap Programs for Private Clients (Model Portfolios, UMA/SMAs) (FSAAABAM)

Keywords

• Legal expert witness services
• Personal injury claims support
• Clinical negligence advisory
• Structured settlement planning
• Legal costs consulting

Headquarters

HQ city

Salford

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Funds Under Management (FUM) Fees: Revenue generated from managing investment portfolios for clients. FUM grew from £1.56bn to £1.80bn, with recurring revenues of £15.9m representing 19% growth
2. Professional Services: Expert witness reports, legal costs consulting, case management, and welfare benefits advice to law firms and claimants
3. Financial Planning Services: Holistic financial planning, trust management, and investment advice for personal injury and clinical negligence claimants post-settlement
4. Training Services: Free and paid training programs through the Knowledge Hub training academy, APIL accredited courses for CPD hours

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Frenkel Topping Group Plc is a London Stock Exchange-listed company (ticker: FEN) that provides expert witness reports, legal costs services, financial planning, and fund management to support individuals involved in personal injury and clinical negligence claims. The group operates a family of specialist brands including Frenkel Topping Expert Witness, Partners In Costs, Forths, Keystone Case Management, Forte, and Ascencia Investment Management, delivering a comprehensive concierge service spanning the full litigation and settlement lifecycle.

Product overview

Frenkel Topping Group is a consolidated portfolio of specialist financial services and professional services businesses serving the legal, personal injury, and clinical negligence sectors. The group operates as a platform of distinct sub-brands under six pillars: Professional Services (Forths, Partners In Costs, Bidwell Henderson, Keystone, Somek & Associates), Independent Financial Advisers (Frenkel Topping IFAs, Obiter Wealth Management), Investment Management (Ascencia Investment Management), Client Support Services (A&M Bacon, N-Able Services, Equatas), Talent (Knowledge Hub training academy, Graduate Academy, Apprenticeship Scheme), and Charitable Foundation (Frenkel Topping Charitable Foundation). Core service offerings include expert witness reports, welfare benefits advice, personal injury trusts advice, legal costs services, financial planning, and care & case management. The group also provides Cardinal Management's Major Trauma Signposting Partnership (MTSP) services. The company is headquartered in Salford, Greater Manchester, and operates as a long-established family of tried, tested, and trusted businesses focused on supporting clients through life-changing events.

Differentiator

Problem solved

Functional benefit

Brands

• Ascencia Investment Management: Autonomous part of Frenkel Topping Group that creates and offers managed portfolio investment solutions for clients who have been awarded settlements from clinical negligence or personal injury
• The Knowledge Hub
• Frenkel Topping Charitable Foundation

Products and services

• Expert Witness Reports
• Legal Costs Services Legal costs drafting, negotiation, and settlement services for law firms operating in personal injury, clinical negligence, and related litigation areas.
• Financial Planning Services Specialist financial planning advice and Personal Injury Trust (PIT) setup for individuals in receipt of damages awards.
• Fund Management (Ascencia) In-house discretionary investment management for personal injury and clinical negligence damages, including Defaqto-rated defensive portfolios managed within Ascencia Investment Management.
• Forensic Accounting Forensic accounting and commercial accounting services to support personal injury and clinical negligence claims (delivered through Forths).
• Case Management Specialist case management for seriously injured claimants, including immediate needs assessments, rehabilitation coordination, and life planning.
• Accountancy and Tax Services Specialist accountancy, tax, and trust services for damages recipients and trustees (delivered through Equatas).
• Welfare Benefits Advice Specialist welfare benefits check and advice for personal injury claimants, including post-settlement automatic welfare entitlement reviews.
• Knowledge Hub Training Academy Training and educational programmes for professionals working in personal injury, clinical negligence, and related fields.
• Major Trauma Signposting Service Major Trauma Centre signposting service (Cardinal Management) for in-patients at NHS Major Trauma Centres, connecting patients with specialist legal and rehabilitation support.

Quantifiable outcome

• 99% client retention rate
• +4 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

15 partnerships are on record, tiered core and minor.

• Sheffield Children's Hospital NHS TrustcoreStrategic or Co-development Partner · 1 June 2024Partnership with new Major Trauma Centre at Sheffield Children's Hospital via Cardinal Management Limited.
• Somek and Associates LtdcoreStrategic or Co-development Partner · 13 September 2022One of the biggest providers of Expert Witnesses in the UK delivering highly professional trained experts in health professions: Occupational Therapy, Care experts, Physiotherapy, Speech & Language Therapy, Nursing, Midwifery. Acquired by Frenkel Topping Group in September 2022.
• N-Able Services LtdcoreStrategic or Co-development Partner · 13 September 2022Case Management and Care Expert reports providing specialist, bespoke rehabilitation and lifestyle programmes for those who had experienced catastrophic injuries. Founded in 2002, one of the largest independent Case Management providers in the UK. Acquired by Frenkel Topping Group in 2022.
• CFG LawcoreStrategic or Co-development Partner · 25 July 2022Joint venture partnership with CFG Law as part of Frenkel Topping's Partnership Programme growth strategy.
• Ralli LtdcoreStrategic or Co-development Partner · 1 November 2021Joint venture partnership with Ralli Ltd.
• Bidwell Henderson Costs ConsultantscoreStrategic or Co-development Partner · 1 August 2021One of the UK's largest professional legal services companies specialising in legal aid and inter partes law costs drafting, legal cashiering and costs training. Covering complex public, private family, housing, judicial review, Court of Protection, abuse and clinical negligence cases.
• Pattinson BrewercoreStrategic or Co-development Partner · 1 August 2021Fifth joint venture partnership with Pattinson Brewer as part of Frenkel Topping's expansion of partnership programme.
• Partners in Costs LimitedcoreStrategic or Co-development Partner · 1 February 2021Established team of national specialist legal costs consultants providing dedicated solutions in clinical negligence, catastrophic injury and dispute resolution. Specialising in bills of costs, budgeting, negotiations, advocacy, and training.
• Aspire (Spinal Cord Injury Charity)minorStrategic or Co-development Partner · 1 September 2020Partnership to provide IFA services to Aspire, the specialist spinal cord injury charity.
• Horwich Cohen Coghlan LtdcoreStrategic or Co-development Partner · 1 July 2020IFA joint venture partnership with HCC for providing financial advisory services.
• Truly Independent / AscenciacoreStrategic or Co-development Partner · 1 July 2020Ascencia extends DFM services to external IFAs with its first partnership with Truly Independent.
• Express SolicitorsminorStrategic or Co-development Partner · 1 July 2020Partnership with Express Solicitors to provide life after settlement advice.
• Hudgell SolicitorsminorStrategic or Co-development Partner · 1 July 2020Partnership with Hudgell Solicitors to provide clients with IFA advice.
• Obiter Wealth ManagementcoreChannel Partner/ Reseller/ Distributor · 1 July 2020IFAs operating as part of Frenkel Topping Group offering independent financial advisory services.
• Cardinal Management (MTSP)coreStrategic or Co-development PartnerCardinal Management established the Major Trauma Signposting Partnership (MTSP) supporting eight NHS Major Trauma Centres. Provides free bedside advice and support to patients on welfare issues, helping reduce patient anxiety at difficult times. The partnership has expanded to twelve NHS Major Trauma Centres.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Kings Court Trust: UK specialist provider of personal injury trust, Court of Protection, and financial planning services for PI/CN claimants. Directly comparable in that both firms serve the same post-settlement claimant population with structured trust and financial advisory offerings.
• Bush & Company: UK case management and rehabilitation provider for catastrophic injury claimants. Directly comparable in that both firms operate specialist case management services for the PI/CN claimant ecosystem and share the same solicitor referral network.
• Kain Knight Costs Consultants: UK specialist legal costs consultancy serving clinical negligence and catastrophic injury claims. Directly comparable in that both firms offer Legal Aid, inter partes, and Court of Protection costs drafting services to PI/CN law firms.
• Stewart & Co Case Management: UK independent case management company supporting catastrophically injured claimants. Directly comparable in that both firms provide Part 35-compliant expert witness and care/case management services to the same solicitor client base.
• Proclaim Care: UK case management and rehabilitation services for seriously injured individuals. Comparable in that both firms deliver bespoke, clinically-led case management programmes for the PI/CN claimant population.

Broad incumbents

• WH Ireland: UK wealth management and professional services group. Comparable in that both firms offer discretionary fund management and financial advisory services through a UK regional footprint, though WH Ireland's client base is broader than PI/CN claimants.
• Investec Wealth & Investment: UK private wealth management firm providing bespoke investment management services. Comparable in that both firms provide discretionary fund management and wealth planning, though Investec serves a broader HNW/UHNW client base.
• Rathbones Group: UK wealth manager offering discretionary investment management and financial planning. Comparable in that both firms operate DFM platforms covering model portfolios, though Rathbones serves a broader investment advisory client base.
• Brooks Macdonald Group: UK-listed wealth management group providing discretionary fund management and financial planning. Comparable in that both firms offer managed portfolio investment solutions, though Brooks Macdonald serves a broader HNW client base rather than injury claimants.
• St. James's Place: UK wealth management firm with a partner (IFA) distribution model. Comparable in that both firms leverage IFA/partnership distribution channels to scale managed portfolio AUM, although SJP operates at materially larger scale across mass-affluent and HNW clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/frenkeltopping
• LinkedInlinkedin.com/company/frenkel-topping

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Frenkel Topping Group