View more on these topics

AFH profits jump 83%

AFH Alan Hudson 700
Alan Hudson

IFA consolidator AFH has reported an 83 per cent increase in profit after tax to £3.1m for the 12 months ending 31 October 2017.

The business, which acquired 13 IFAs during the period, increased funds under management by 39 per cent to £2.79bn (2016: £2bn). Revenues increased by 39 per cent from £33.6m to £24.1m.

During the year, initial advice fees totalled £9.4m, which was a 20 per cent increase on the previous year. Ongoing management fees increased to £21.3m (2016: £16.2m), which AFH says is a reflection of increased funds under management.

AFH: What does the future hold for the market’s most acquisitive firm?

AFH completed 14 acquisitions throughout the year, 13 of which were IFAs and one protection broking business. The combined maximum cost of those deals was £18.7m.

Group chief executive Alan Hudson says: “New business and continued demand for financial advice from existing clients, together with a series of earnings accretive acquisitions during the year, enabled the group to grow its funds under management to £2.8bn and increase revenues to £33.6m whilst the efficiencies and economies of scale that we have worked towards generated a further improvement to our EBITDA margin and continues our progress to our three to five year aspirational target.”


AFH Alan Hudson 700

AFH makes first 2018 purchase with Hertfordshire IFA

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 […]


Fairstone adds £160m in assets with Glasgow firm

Consolidator Fairstone has completed its acquisition of Glasgow advice firm Professional Partners bringing approximately £160m in funds under management and £1.1m in revenue. Professional Partners was in Fairstone’s “downstream buy out” programme prior to the consolidator fully acquiring it. Through that model Fairstone takes a minority stake in advice firms then integrates them into the […]


Standard Life advice arm buys another IFA

Standard Life’s restricted advice arm 1825 has opened the new year with another acquisition, its second in London. The business has been looking to build “regional hubs” by buying up local firms since launching in 2015. It has announced today that its latest purchase is Cumberland Place Financial Management, a six-adviser, 21-staff advice firm which […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment