View more on these topics

AFH acquires Somerset IFA for up to £1.5m

Business-General-Handshake-Hire-Appointment-700x450.jpg

Plus-listed advice firm AFH Financial has acquired Somerset-based IFA business Shape Financial in a deal worth up to £1.5m.

AFH has paid an initial consideration of £125,000 for Shape but that could rise to £1.5m depending on the performance of the business in the two years following the deal.

The addition of Shape’s 16 advisers takes AFH’s total to 104.

The deal is the 14th acquisition by AFH since its initial public offering in June 2011.

AFH chief executive Alan Hudson says: “Importantly, Shape Financial is a strong cultural fit for AFH and its Somerset outpost provides a platform from which the company can extend its reach into the South West region.”

Thomas and Thomas Financial Services managing director Darren Lloyd Thomas says: “A lot of deals are being done at the moment where firms are selling but the amount paid is based on future performance of the business which is often money they would have made if they had just carried on trading themselves.”

In December, AFH acquired Redditch-based Seager Financial Consultancy for a cash sum of £31,000 and Racol Financial Services, which serves clients in Buckinghamshire, for a cash sum of £240,000.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com