View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
January 9, 2018

AFH snaps up advice firm Monopoly Financial Consultants

AFH, a UK-based financial planning led wealth management firm, has acquired Hertfordshire-based Monopoly Financial Consultants in a deal valued at £631,000.

Under the terms of the deal, AFH will initially pay £333,000 in cash, with the remaining amount to be paid in cash over the next 26 months in two instalments, subject to the performance of the acquired business. AFH has funded the deal through its cash resources.

The acquirer believes that the deal, which completed on 5 January 2018, will contribute about £170,000 of recurring revenue to the company.

As per the agreement, Monopoly director Nigel Parbrook will join AFH as an adviser.

Commenting on the acquisition, AFH CEO Alan Hudson said: “This is our third purchase of an IFA business for the current financial year, reflecting our strong pipeline of acquisition targets.

“This latest acquisition further increases our capacity in the South East of England and I look forward to working with Nigel for the benefit of our new clients and to increase shareholder value.”

The buyout of Monopoly is the AFH’s first acquisition of 2018, after its takeover of JW Wealthcare and Colchester-based adviser Britton Financial in December and November 2017, respectively.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International