Consolidator AFH has acquired the assets of Hertfordshire advice firm Monopoly Financial Consultants for £631,000.
AFH says the deal will contribute around £170,000 of recurring revenue. AFH is initially paying £330,000 with the rest of the purchase price paid over the next 26 months in two lots, dependent on Monopoly’s performance.
The deal completed on 5 January and following the acquisition Nigel Parbrook will join AFH as an adviser.
AFH chief executive Alan Hudson says the deal is the consolidator’s third for the financial year.
He says: “This latest acquisition further increases our capacity in the South East of England and I look forward to working with Nigel for the benefit of our new clients and to increase shareholder value.”
AFH acquired Chichester-based J W Wealthcare in a £1.1m deal in December, which followed its acquisition of Britton Financial for more than £2m in November. AFH completed 13 deals in the 12 months to November 2017.