Acquisitive wealth manager takes over two West Midlands firms

AFH's Alan Hudson

Acquisitive wealth management firm AFH has completed deals for two more businesses as it continues to expand.

It has bought two West Midlands firms – acquiring the assets of Arden Financial Consultants and the share capital of Martin Cooper Wealth Management. Together the deals are worth up to £1.4m, with half being paid up front.

Following the deals, Kevin Hobbs, Steve Down and John Kirkland will join AFH as advisers. The other vendors will retire and their clients will be serviced by existing AFH advisers.

The acquisitions are expected to contribute an aggregate of approximately £430,000 of recurring revenue to AFH whilst adding £50m of Funds under Management.
 
Alan Hudson, chief executive of AFH, said: “These two acquisitions, our eleventh and twelfth purchase of IFA businesses during the year, confirm the continued high level of activity that we are seeing in the market.

“The latest acquisitions continue our strategy of providing a stable and well capitalised business within which successful IFAs can continue to provide their clients with professional advice and investment opportunities, both on a personal basis and in retirement.”

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