The JV will be called Broomfield & Alexander Wealth Management Ltd and has been established as an appointed representative of AFH Independent Financial Services, the company’s principal operating subsidiary, in order to develop a presence in South Wales and recruit new IFAs to build the new brand.
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Post the IPO in 2011, the number of advisors at AFH has grown from 53 to over 80.
The JV will see AFH working with Broomfield & Alexander to offer a fully integrated range of tax and financial planning services.
Moreover, Broomfield & Alexander Wealth Management Ltd can also provide complementary services to clients through AFH’s Discretionary Fund Management and in-house investment expertise.
The JV will enable AFH to access the South Wales market and thereby grow the new brand.
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By GlobalDataCommenting on the development, chairman and chief executive of AFH, Alan Hudson said "It is very much our intention to develop our presence in South Wales, to recruit specialist staff and build a strong and loyal brand. I see both Broomfield & Alexander and AFH as two complementary and client-focused businesses seeking to deliver end-to-end solutions to a wide range of clients."
