AFH, a UK-based financial planning led wealth management firm, has acquired the assets of Taylor Frost Wealth Management, an independent financial advisory (IFA) business based in south west London.
AFH will pay up to £1.2 m for the deal, which includes an initial cash consideration of £595,000 and a further £650,000 over the next 26 months in two tranches depending on the performance of the assets acquired.
The acquisition will add nearly £45m to AFH's funds under management. Taylor Frost managing director Keith Taylor will join AFH as part of the deal.
AFH CEO Alan Hudson said: "This acquisition will establish AFH in London and I look forward to working with Keith and our South East based advisers to develop our presence in the capital.
“Keith has built a strong reputation in the medical and dental sectors which I believe will enable AFH to build a specialised service to this sector on a national scale."
The latest deal marks AFH’s fourth acquisition of the current financial year and comes shortly after the firm’s takeover of UK-based advisory businesses Aberdeen Wealth Management and Shield Direct.