It is Frenkel’s sixth joint venture in the sector. The first five joint ventures have so far added around £55m in assets under management for the firm.

The joint venture, named Ralli Financial Services, will see Frenkel become the law firm’s preferred partner for clients who require investment advice post settlement.

Both firms are headquartered in Newcastle but deliver services nationally.

Richard Fraser, CEO of Frenkel Topping Group, said: “As part of our strategy to grow our core business, we are formalising our relationships with high calibre firms who share our client-first mentality.

“Joint ventures, like this one with Ralli, expand our network of new business referrers and demonstrate our commitment to innovate and enhance our services, ultimately supporting our objective to increase shareholder value.”

Ralli managing director, Martin Coyne, lead partner Adrian Anderson and partner, Stephen Fox, will act as directors of RFS alongside Frenkel's group CEO, Richard Fraser, chief operations officer, Mark Holt and chief financial officer, Elaine Cullen-Grant.

Frenkel recently reported a 93% rise in revenue for the six months ending 30 June thanks to its rapid acquisition strategy and professional partnerships. 

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 acquisitions 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.

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

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.