Consolidator firm reveals latest double acquisition

Consolidator AFH Financial has acquired two more advisory firms, bringing its total acquisitions in the last year to twelve.

AFH said this morning it has acquired two regional IFAs which it believes will add £320,000 of recurring revenue to the business. Wealth consolidator says FCA delays are affecting acquisitions The first deal has seen AFH acquire Derby-based IFA Quest Financial for an initial £292,500, with a further £292,500 payable over the next two years dependent on the company’s performance. Quest’s two advisers have left the business while AFH’s existing advisers have taken over their client accounts. AFH has also taken over the assets of Blackburn-based Phoenix Independent Financial Se...