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.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till