Frenkel Topping Limited’s resident Yorkshireman, Client Director Jonny Lord, speaks with the FT Insider, telling us his story and why changing lanes to providing financial advice to vulnerable individuals has been a worthy experience.
“I like to start and finish my day outside of home, which is something I suppose stems from covid,” Jonny explains. “It helps me to move and nipping out for a coffee helps me to focus my mind on what I have ahead. At the moment, I’m feeling stretched but not overwhelmed, which is exactly where I want to be.”
Joining Frenkel Topping Limited in April 2024 as a Client Director, Jonny has had a distinguished career to date, “When I moved to Manchester, one of my early roles was working within the private medical sector,” he says, “I worked at Bupa and then I switched to an American company called Unum. Amongst other things, this company provide disability health insurance and work with companies in relation to long term sickness, so there’s a bit of synergy there. I then moved to Aegon and had a decade-long financial career, getting to a relatively senior level before choosing to dip my toe in the water of running two different businesses.”
Choosing to sell those businesses, Jonny re-engaged with finance a decade ago, retraining to become a financial adviser for Private Wealth clients. When we talked about his changing lanes into the vulnerable client space, Jonny reflects that this was an opportunity to do something more meaningful than “making wealthy people slightly wealthier”.
“The things that I hoped would be true about moving into this sector are true, and that’s very important to me. This role enables me to make a difference; moving over was in the ‘hard’ box, but also in the ‘worth it’ box and that’s very fulfilling.”
No matter the sector of financial advice, the client journey is crucial. Whereas in Private Wealth, Jonny identified that on most matters the accountant would be the fulcrum on which his information on the case would turn, the vulnerable client space has been providing him with a different experience. “I can conclusively tell you that working with Personal Injury, Clinical Negligence and Court of Protection lawyers is an entirely different experience” Jonny observes “these people are extremely committed to making sure their clients don’t fall off a cliff and ensuring that the settlement monies received are in place for the rest of their lives.”
Creating a bond with his new lay and Deputy clients is a key part of the role, and we discussed how Jonny handles this. “First off I’d say I know a bit about loss, as I’m a Bradford City fan! Joking aside however, I have lost my hearing in one ear, and so whilst I haven’t been through what my clients have, I can bring my experience of needing to adapt to a new situation and a new set of circumstances to the table.” Bringing a sense of humour to the client experience, whilst also taking the time to approach his clients with empathy and care gives Jonny a strong base with which to sit down with lay and Deputy clients. “I’ve been told that I’ve got a good bedside manner, which is very flattering. My perspective is that I’ve been around for a while, I’ve got a rounded view and as much of a cliché as this sounds, the older I get, the more evident it is that it’s important to just be yourself. People can tell when you aren’t being genuine and putting up a front.”
“I’m a great believer in the importance of leaving space for the other person in the conversation,” Jonny continues. “It’s brilliant to be able to spend time with clients, learn about their world and how I can support them on their journey. I love my clients’ stories, I’m interested in them sharing their stories with me and if I were to go into meetings with all guns blazing there’d be no room for that.”
The unique nature of individuals rebuilding their lives post injury or accident is an experience Jonny has become passionate about since joining Frenkel Topping. “The number one word I would use to describe our client base is inspiring. My clients are genuinely inspiring and it is a privilege to be a part of the team helping them to adapt to their post-incident circumstances.” Whilst every one of the team’s consultants have precious stories they can share about their clients, Jonny told us about several clients he’d been fortunate enough to meet, from amputees who’d pushed themselves back to the gym to test their prosthetics, to another amputee who had the determination to get himself back to work just 18 months after his operation. “As he said to me,” Jonny relates “‘my leg isn’t going to grow back if I complete Netflix’. Their attitude is incredible and to even have 1% of that determination and resilience is admirable.”
Reflecting on this experience, Jonny sums up “I’m here to work with them to facilitate the best possible version of their post-injury life and celebrate their successes and milestones post injury. So stop, listen and leave space.”
Zoning in on the Frenkel Topping experience, Jonny shared with us the ‘family’ feel the company has. “Whilst Frenkel Topping is larger, that feeling is still present within the company. I am happy to be able to communicate to my clients that although we are an AIM-listed group, we feel like a small firm because a culture has been maintained; we don’t feel like we’re cogs in a machine, and so I can pass that true sense of ‘customer first’ onto my clients.”
Frenkel Topping’s ability to provide pre and post settlement support has also enabled Jonny to expand his skillset. Prior to working at FT, Jonny hadn’t been in a position to provide expert witness work. “It’s been great to add that to my skillset,” he remarks “there’s a lot of expertise in the building to work with on this subject and it’s been taking me time to get up to speed, but the support and help is there for me to develop this and to grow.”
As we concluded, we discussed the sort of advice Jonny might give to someone considering getting into the vulnerable client space. “My hopes of what was going to be true about moving into the sector have thankfully been borne out,” Jonny reflects, “I would say that sooner or later, you’ve just got to try. You’ll have a load of ideas about what something could be but start down the road and see where it takes you.”
“I know I can be perceived as having a calm persona, but I am very in touch with my emotions and to me, there is an importance in being able to do something meaningful. After all, how do you know what’s meaningful to you if you aren’t in touch with your emotions? This sector is about making a difference and you can find inspiration from every single one of the clients you work with.”
