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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.”



Providers to cut charges on £10bn of legacy pension savings

Pension providers have agreed to cut charges on £10bn of savings trapped in expensive legacy schemes following months of pressure from consumer groups and politicians. The unnamed providers say they will slash charges to bring them in line with the 0.75 per cent charge on auto-enrolment default funds which comes into force this April, the Department […]


John Cridland to step down as head of CBI

CBI director general John Cridland is to leave the business lobbying group after five years in the role. The CBI has appointed recruitment agency Odgers Berndtson to find a successor. Cridland’s contract is due to expire in January. He told the FT he had always intended to follow the lead of his predecessors and serve […]

Loney-Phil-Royal London-2013

Royal London profits hit by £61m charge cap costs

Royal London has reported a 48 per cent drop in profits after taking a £61m hit following the Government’s decision to cap auto-enrolment charges at 0.75 per cent. The provider’s 2014 results, published today, report a pre-tax profit of £159m, almost half the £306m profit it made in 2013. It says profit was “significantly impacted” […]

Ian McKenna: Gadget of the fortnight

As someone who spends a lot of time creating documents I have never found a mouse to be the fastest way of moving around a screen. My preference for more years than I can remember has been a trackball which you can spin around using your thumb. Supposedly this reduces the risk of repetitive strain […]

Tapering of annual allowance – adjusted and threshold income

The definitions of adjusted income and threshold income used to determine whether, and to what extent, someone’s annual allowance will be reduced can be confusing.  Here we try to make sense of it all. The annual allowance will be reduced for high income individuals from 6 April 2016.  Our previous article Tapering of annual allowance […]


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