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AFH acquires Welsh IFA for £422K

Advisers and discretionary fund manager AFH Financial Group has announced the acquisition of Welsh IFA firm AG Financial Planning for £422,000.

The deal sees AFH gain around £28m in advised assets and 200 clients.

Director Robert Donaldson will be retained as an adviser.

Under the terms of the deal, AFH will make and £195,000 initial cash payment, and pay a further £227,000 depending on the performance of AG Financial in the next two years.

AFH chief executive Alan Hudson says: “I am pleased to welcome Robert and his clients to our growing advisory team. This transaction underlines our strategy of making synergistic acquisitions which enhance our existing offering.”

The deal represents the fourth acquisition for AFH this year.

Last month AFH raised £500,000 through the issue of ordinary shares to fund further acquisitions. It also launched a bond issue to raise £752,000 in September, and in August announced it had raised £2.8m from investors via a share issue of 1.9m shares at £1.09 a share. 

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