Studley wealth management firm swallowed up by AFH

AFH, the wealth management firm, has bought the client portfolios of Groom Associates, based in Studley, Warwickshire, in a deal worth up to £615,000.

Bill Groom and Annabelle Duncan will retire following the acquisition and their clients will be serviced by existing AFH advisers.

Alan Hudson, chief executive of AFH, said: “Our eighth acquisition of the financial year is the client portfolio of an established IFA business in Studley. I wish Bill and Annabelle well in their retirement. The business provides a complimentary fit to AFH’s core business and I am confident that Groom’s existing clients will benefit from the advantages of the AFH proposition.”