AFH buys Michael Mac Wealth Management

The deal is its sixth since the Retail Distribution Review (RDR) was implemented. Michael Mac is a wealth manager based  in Bishopton, near Stratford-Upon-Avon, with about £8m of funds under management. In its most recently completed financial year, Michael Mac had recurring revenues  of £83,477. The owner and vendor of Michael Mac is leaving the industry and its 750 clients will be transferred to advisers at AFH following the acquisition. The  maximum  consideration for the acquisition is just over half a million pounds. AFH chairman and chief executive Alan Hudson said: "The ...