View more on these topics

AFH secures record aquisition of £230m firm

AFH Alan Hudson 700Advice firm consolidator AFH has shelled out £7.7m on its 16th acquisition of the year, which will bring a further 2,500 clients to its business.

The group has announced its  acquisition of Mainstone-based Core Financial Services.

The deal adds £230m to AFH’s funds under management and is the largest in its 27-year history and was secured last month.

Core chief executive Mark Sutton will join AFH along with nine advisers and support staff. The IFA has offices in London, Nottingham and along the south coast.

AFH chief executive Alan Hudson says: “It’s great to be celebrating our biggest deal since we started in 1990 and we’re not stopping here. This deal will significantly expand AFH’s position in the South East. I am pleased to welcome Mark and his team to AFH and I look forward to working with them to further the growth of AFH.”

AFH chief executive: ‘We have no intention of slowing down on acquisitions’

AFH also recently announced plans to raise £15m to fund more acquisitions by offering new shares in the company.

The consolidator recently bought the client portfolios of the Colwyn Bay office from the administrators of collapsed DFM Beaufort Securities, and also acquired client bank of Salisbury-based firm Emery Little for a maximum price of £1.6m in September.

AFH is set to scrap platform fees for clients by the end of the year, after announcing in July that it was in a strong enough financial position to absorb the cost.

The Core acquisition takes AFH’s total FUM to £4.5bn.

Recommended

Protection-shelter-umbrella

TPR bans two trustees over scam suspicions

The Pensions Regulator has banned Stephen Alexander Ward and Anthony Salih from acting as trustees after they allowed millions of pounds to be put into suspected scam investments. The trustees put pension savers’ money into eucalyptus farms, hotel rooms on an African island and car park bays. TPR’s Determinations Panel found that both men lacked […]

Budget briefcase illustration

Budget 2018: Personal allowance and higher rate tax thresholds increased

The personal allowance will rise to £12,500 from April 2019, chancellor Philip Hammond has announced in today’s Budget. This means a basic-rate taxpayer will pay £1,205 less tax in 2019-20 than in 2010-11. The higher rate tax threshold will also increase to £50,000 in April 2019, a year before expected. It was announced 1m fewer […]

A pink piggy bank with a Union Jack
1

FCA issues Dear CEO letter in response to Sipp failures

If a Sipp firm cannot meet its financial commitments it may be in the interest to customers for all or part of its business to be sold to another firm, the FCA has said today in a Dear CEO letter to Sipp operators. The regulator claims that operators must communicate “in an open and cooperative […]

Rayner Spencer Mills: Why we rate the Artemis US Select Fund

Ken Rayner and Graham O¹Neill from RSM explain why they rate the fund, its investment process and how it can be used in a portfolio The Artemis US Select Fund became a RSM ‘rated’ fund earlier this year. In this video, Ken Rayner and Graham O’Neill explain the fund’s investment approach, why they rate it, […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com