AFH Financial Group has been admitted to the index with a market capitalisation of £10.9m and says it will use its position as a listed vehicle to “accelerate its acquisition strategy”, believing that the IFA sector is “ripe for rationalisation and consolidation” in the run-up to RDR implementation.
“We have been delighted with investors’ response to the fundraising and believe Plus will provide us with an excellent platform as we seek to further our position through both organic and acquisitive growth.
This is a major step forward in terms of delivering growth to our shareholders,” said Alan Hudson, chairman and chief executive of the Worcestershire-based business.
AFH offers an in-house stockbroking service and says it is one of around 2% of UK IFAs to have authorisation to carry out discretionary portfolio management for its clients.
