Consolidator AFH has secured yet another advice firm acquisition, this time picking up Hertfordshire-based Harrison White FS Limited.
AFH has paid an initial £362,000 in cash for the firm, with the maximum price set at £738,000 if Harrison White hits profitability and other financial targets.
These payments will come in two traches over the next 26 months.
Harrison White has one practicing adviser, according to its FCA register entry, Steven White, who is an appointed representative of fellow Tring-based firm The Keynsham Partnership, of which he is also listed as an authorised individual.
The firm currently has £55m in funds under management, and is expected to produce a £410,000 a year revenue stream for AFH.
In the first two months of 2018 alone, this is the fourth acquisition AFH has made.
AFH chief executive Alan Hudson says: “I am pleased to report our fourth acquisition of the financial year which further strengthens our presence in the home counties. Steve maintains a strong local network through his sporting connections and I look forward to working with him for the benefit of our new clients and to increase shareholder value.”
AFH reported an increase in profits of 83 per cent in January on the back of the 13 advice firms it acquired during the last financial year.
It has bought a range of sizes of firm, from one man bands to national IFA Independent Financial Services earlier this month.