AFH completes Elgar Financial acquisition

The firm said it was its ninth acquisition since its IPO last year. Elgar was founded in 1992 by Andrew Sellars, who is retiring due to ill health. It has 70 active clients and no other staff. Alan Hudson, AFH chairman and chief executive, said the group had continued to perform well since its July interim results and IFA numbers had grown from 53 at the time of floatation, to 91 at the start of September. He added: "The group remains profitable,  cash generative  and extremely well placed to take advantage of changes in the sector as a result of  December's Retail Distribution Review....