Wealth manager invests £1m as buy-and-build strategy continues
Wealth manager AFH has bought two firms in deals that could be worth £1.08m as it continues its acquisition strategy.
The Bromsgrove-based group will pay up to £556,500 for Scottish firm Aberdeen Wealth Management, in a deal that AFH’s chief executive Alan Hudson said would “strengthen” its presence north of the border.
It is also investing a maximum of £520,000 for Shield Direct in Dorset, which “will bring a number of high quality clients spread across the South West and West Midlands”.
Hudson added: “The acquisition of the assets of Aberdeen and Shield follows the recently reported acquisition of the assets of David Rushden and demonstrates the increasing level of activity that we are seeing in the market.”
The two deals announced today will add approximately £44m to group funds under management.
