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.

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.