AFH has taken its total acquisitions for the year into double figures after completing the purchases of three more independent financial advisory firms for a combined price of up to £1.9m.
The financial planning-led wealth management firm has bought Cotswold-based Granville Bates, Yorkshire-based Johnson Birkett and Cheshire-based G-Force Financial. Following the acquisitions, the vendors will retire and their clients will be serviced by existing AFH advisers. According to AFH, the deals are expected to contribute an aggregate of approximately £500,000 of recurring revenue to the company. It added that the initial consideration for the acquisitions was £1m in cash, funded from its existing cash resources, and that further deferred consideration of up to £0.9m would be p...
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