The multi-tiered partnership promises to benefit the independent advisor marketplace and notably support the discretionary investments of those more vulnerable clients in drawdown.

Frenkel Topping has entered a 50:50 joint venture between Ascencia Investment Management and its discretionary fund manager (DFM), and Truly Independent, a firm of independent financial advisors (IFAs).

Frenkel Topping, a specialist independent advisor and asset manager focused on protecting vulnerable clients’ assets, said the JV will extend Ascencia’s discretionary fund manager services to Truly’s 50 registered clients. The new venture, under the name Truly Asset Management, is expected to broaden DFM distribution to external IFAs for the first time, in turn, boosting assets under management, the firm said.

Ascencia was launched in 2016 and has been providing Frenkel Topping advisors with discretionary fund services for the past three years.

“Ascencia has gone from strength to strength, delivering positive performances over the last three years and has demonstrated it can generate real yield, which is particularly important if clients are in drawdown. Broadening our DFM distribution to the external IFA marketplace is in line with our strategy and a logical next step to take Ascencia to the next stage of growth,” said Richard Fraser, Frenkel Topping CEO.

Andrew Goodwin, CEO of Truly Independent, said that Ascencia’s investment performance and ethical investing approach were “key considerations” in the decicion. “Working with Ascencia and adding DFM to our offering, Truly Asset Management will be able to expand the range of highly secure and price-conscious services we can offer, while at the same time supporting our ambitions of growing the business.”