UK-based adviser consolidator AFH Financial Group has acquired two independent financial advisory (IFA) firms in a double deal, adding £55m to its assets under management.
The acquisition of Oxfordshire-based firm Roxborough Consultancy amounting up to £911,760 will be funded by an initial payment of £476,760, followed by a further payment of up to £435,000 over the next 26 months depending on performance.
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The consolidator will pay up to £84,000 to purchase the assets of the West Bromwich First Class Financial Management.
AFH Financial CEO Alan Hudson said: "We continue to seek, select and complete opportune acquisitions in a post-RDR world.
"We intend to focus our acquisition strategy on retiring IFAs over the coming months as part of our overall growth strategy."
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