Profits break through £10m mark at wealth management firm

Revenue and profit at Bromsgrove-based wealth management firm AFH Financial Group have soared, according to the year-end results.

For the 12 months to 31 October 2019, AFH posted revenues of £74.3m – up 47% on 2018, while profits shot up by 82% to £10.8m.

The firm says it is makign “steady progress” towards its five-year plan with fund under management of £10bn.

Alan Hudson, Group chief executive, said: “I am delighted to report on yet another year of continued progress for AFH in the financial planning-led wealth management market. The year under review produced a sixth consecutive year of growth and improved profitability since joining AIM in 2014.

“The Group’s strategy to increase shareholder value through the expansion of the AFH community remains at the heart of our growth.”