Discretionary wealth manager and independent advisory group AFH has acquired Cheltenham-based IFA Specialist Solutions in a deal worth up to £725,000.
The deal for Specialist, which manages about £80m worth of client assets, marks AFH's eighth acquisition since its IPO last year.
Under the terms of the agreement, AFH will pay an initial consideration of £100,000 from its existing resources, with up to £625,000 in deferred consideration payable over the following 24 months.
As part of the agreement, AFH is purchasing the assets and goodwill of Specialist Solutions but is not assuming any advice liability incurred prior to the acquisition.
This acquisition brings the total number of advisers at AFH to 88.
Developed by industry-wide group
Joined in 2002
'Educate clients' children'
Raised £15m earlier this week
From 8pm Friday 19 October