Wealth manager hits the acquisition trail again

Wealth management group AFH has completed its latest acquisition – its third in the current financial year.

The Bromsgrove based IFA has purchased the assets of Monopoly Financial Consultants, based in Rickmansworth.

The maximum purchase price is £631,000 subject to certain financial targets being met. The acquisition is expected to contribute approximately £170,000 of recurring revenue to the company.

The deal strengthens the group’s presence in the South East and following the acquisition, Nigel Parbrook will join AFH as an adviser.

An initial consideration of £333,000 in cash is being funded from AFH’s existing cash resources. The further payments will be made in cash over the next 26 months in two tranches, dependent upon performance.

Commenting on the deal, Alan Hudson, chief executive of AFH, said: “This is our third purchase of an IFA business for the current financial year, reflecting our strong pipeline of acquisition targets. This latest acquisition further increases our capacity in the South East of England and I look forward to working with Nigel for the benefit of our new clients and to increase shareholder value.”