afh wealth management expands in midlands

AFH Wealth Management, based in the Midlands, has acquired three other IFA businesses in the area and has said further takeovers are planned.

afh wealth management expands in midlands

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The group, which was founded 21 years ago, floated back in June with the intention of growing the company through acquisition.

It said since flotation it has increased the number of advisers at the group by 17% to 62, and it expects to have more than 70 in place by the end of the year.

The three businesses AFH has bought will add more than 1,300 new clients to its books, taking the total number of clients to over 13,000.

Alan Hudson, chairman and CEO of AFH, said: "The acquisitions reaffirm the company’s stated intentions within the admission document at the time of flotation.

"It has been an incredibly active period since our June IPO this year, which has seen a significant increase in recurring revenue, IFAs and additional advice related services."

The total recurring income added through the three acquisitions is £147,000 per year, AFH said.

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