Consolidator AFH has settled the £4.1m deal to purchase national IFA Independent Financial Services, nearly two years after announcing the acquisition.
AFH paid an initial cash sum of £450,000 for the advisory business in May 2015.
An earn-out consideration comprising a cash payment of £264,773 and 106,763 ordinary shares of 10 pence has been settled with the vendors of IFS.
This is in line with the initial acquisition agreement from May 2015, where it was agreed the final acquisition sum of up to £3.65m would be paid in three tranches, based on the performance of IFS.
The IFS acquisition initially brought 35 advisers to the group.