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Consolidator buys Kent firm in £7.7m deal

AFH Alan Hudson 700
Alan Hudson

National IFA AFH has acquired its sixteenth firm of the year with the purchase of Kent-based Core Financial Holdings.

AFH also acquires the assets of Core Corporate Planning as part of the deal.

The acquisition brings more than £230m of funds under management to AFH. Core chief executive Mark Sutton, nine advisers, and support staff will all join the consolidator.

AFH is paying a maximum of £7.7m for the business with an initial payment of £3.2m.

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

AFH chief executive Alan Hudson says: “I am pleased to welcome Mark and his team to AFH and I look forward to working with them to further the development of the AFH brand and continue our growth for the benefit of our new clients and to increase shareholder value.”

Last week, AFH announced two acquisitions. It bought the client portfolios of the Colwyn Bay office from the administrators of collapsed DFM Beaufort Securities.

It also acquired the client bank of Salisbury-based firm Emery Little for a maximum price of £1.6m.

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