Consolidator ramps up acquisition spree with £4.1m deal

Wealth consolidator AFH has made its tenth deal in less than a year with the acquisition of a national advisory firm.

In its largest deal to date, and its first of a national firm, AFH will pay a maximum of £4.1m in total for Independent Financial Services (IFS) on the basis of its performance over the next 30 months. IFS is a Stroud-based national firm of IFAs, with 35 independent financial advisers and several national Affinity Group relationships. The acquisition, which completed on 30 April, brings AFH's funds under management to £1.7bn. The consolidator began its string of acquisitions after listing on AIM in June last year. Funds under management have doubled from around £850m at the point o...