Financial planning and discretionary wealth management business Harwood Wealth Management Group announced on Wednesday that it has been appointed as portfolio research partner to Frenkel Topping Group.
The AIM-traded firm said that, through its wholly-owned subsidiary Wellian, it would be providing the portfolio research element of Frenkel Topping's investment management services.

Frenkel Topping agreed to pay the group a fee relating to the size of its discretionary assets under management by the group, which would initially be approximately £250m.

As volumes of funds managed by Frenkel Topping increased, the percentage fee payable to Harwood Wealth would reduce.

"We are delighted to have been selected to manage the portfolio research element of Frenkel Topping's investment management services and look forward to a long term relationship that is beneficial for all stakeholders," said Harwood Wealth joint CEO Alan Durrant.

"This mandate is further proof of the robustness of our 'Insourced Investment Director' model that allows our partners to define the portfolio characteristics and leaves us to carry out the day-to-day management within these objectives."

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Frenkel Topping Group (FEN) share price
Harwood Wealth Management Group (HW.) share price