Financial advisory firm Frenkel Topping has reported a 93% rise in revenue in its interim results today thanks to a rapid acquisition strategy.

In the six months ended 30 June the company saw year on year revenue up from £4.4m to £8.5m and pre-tax profit up from £495,000 to £1.3m.

The company also reported Assets Under Management of £1.1bn, up 15% and assets on a DFM mandate of £606m, up 40%.

Recent acquistions have focused on the personal injury and clinical injury sector and the firm says it is well on its way to becoming one of the UK’s leading IFAs advising recipients of personal injury and clinical negligence settlements. 

The firm has established several joint ventures including in August with law firm Pattinson Brewer to launch a new financial advice service to personal injury clients.

The joint venture was the fifth for the advisory firm in the personal injury and clinical negligence space.

The firm said its acquisitions of A&M Bacon Limited and Partners in Costs Limited were performing in line with expectations and were fully integrated. The firm acquired Bidwell Henderson, a legal costs consultancy based in Derbyshire and Newcastle Upon Tyne, in August.

Frenkel said it was continuing to look at further acquisitions in several different areas.

Richard Fraser, CEO of Frenkel Topping, said: "Despite the continued challenges presented by Covid-19, we have delivered another excellent performance in the first six months of 2021, increasing revenue, EBITDA and AUM year-on-year by 93%, 118% and 15% respectively. Our portfolios have continued to perform well, delivering returns that have been notably ahead of the broad UK equity index (FTSE All Share Total Return Index) over the 18 months to June 2021.

"Since our £13m capital raise in July 2020, we have successfully executed our stated buy and build strategy which is positively impacting the group's growth and opportunity by consolidating the fragmented Personal Injury and Clinical Negligence market and allowing Frenkel Topping to become a full-service provider with multiple touch points across the space. The acquisitions of Forths, Partners in Costs, A&M Bacon and, most recently, Bidwell Henderson, allow us to scale routes into growing AUM mandates from successful claims. 

"The second half of the year has begun positively and trading remains strong and in line with management's expectations for the full year.”

The firm consists of Frenkel Topping Limited, Ascencia Investment Management, Obiter Wealth Management, Equatas Accountants, Forth Associates, A & M Bacon Limited and Partners in Costs Limited.