AFH, a UK-based financial planning led wealth management firm, has acquired Harrison White, a Hertfordshire-based advisory firm.

Harrison White founder Steve White will join AFH as an adviser as part of the deal.

The deal consideration includes an initial cash payment of £362,280, which has been funded from the firm’s existing cash resources.

AFH will pay a maximum of £738,000 for the acquisition, based on the fulfilment of certain targets. The payments will be made in two tranches over the coming 26 months.

The deal will add around £410,000 in annual revenue and £55m in funds under management to AFH’s books.

AFH CEO Alan Hudson said: “I am pleased to report our fourth acquisition of the financial year which further strengthens our presence in the Home Counties.

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“Steve maintains a strong local network through his sporting connections and I look forward to working with him for the benefit of our new clients and to increase shareholder value.”