AFH Financial Group has acquired Stoke-on-Trent based IFA firm SR Wealth Management.
The acquisition, AFH Financial's seventh since January 2013, comprises an initial cash payment of £94,500 and the potential for a further £105,000 to be paid out over the next 26 months depending on the performance of SR Wealth Management.
SR Wealth Management owner Martin Bradshaw has announced his intention to step down from the industry on completion of the deal.
AFH chief executive Alan Hudson said: "As expected, RDR continues to drive consolidation within the industry; we remain committed to capitalising on this opportunity by making well timed, selected investments that complement our dynamic business."
"We welcome the clients of SR Wealth Management and look forward to providing them with the high quality service consistently delivered by our professional team of advisers."
SR Wealth Management has approximately £10.2m of funds under management and had recurring income of £63,000 in its most recent financial year.
The IFA firm acquired wealth manager Michael Mac Wealth Management in December.
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