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AFH Financial acquires IFA in £460k deal

AFH Financial has acquired Nottingham-based IFA Clarendon Financial Solutions for £461,000.

The deal is the consolidator’s ninth acquisition since it was listed on AIM in June and will add £25m in funds under management.

AFH will pay an initial consideration of £230,550, plus a deferred consideration of up to £230,550 over the next two years dependent on the performance of Clarendon.

AFH chief executive Alan Hudson says: “We are delighted to further our growth of the AFH business as we continue to see good acquisition opportunities arise.

“This is the sixth acquisition made during this financial year which has seen the group expand across Devon, Kent, Oxford, the West Midlands and now the East Midlands. I am pleased to welcome Clarendon’s financial advisers into the group and offer them the opportunity to develop their own client bases within AFH.”

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