AFH Financial Group has acquired Origin Financial, an IFA based in Hagley, West Midlands for £1.1m.
The acquisition is the company's sixteenth since listing on ISDX in June 2011 and the third since the Retail Distribution Review (RDR) was implemented on 1 January 2013.
Origin has about £88m funds under management for clients throughout the West Midlands. In the year ended 31 December 2012, Origin had revenues of about £770,000 of which £440,000 was recurring income.
All advisers and staff will remain with the company, including Andrew Smith, current CEO, who will become a divisional director. The business will, after a short integration
period, operate from AFH's Bromsgrove headquarters.
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