AFH Financial acquires Chartwell Associates

The maximum consideration for the acquisition will be £480,000 in cash, depending on Chartwell's profitability, and it's six advisers will continue to operate from the firm's Egham office. Chartwell has approximately £32m in funds under influence and 1,200 clients, according to AFH, and the acquisition brings the group's total number of advisers up to 97. Alan Hudson, chairman and chief executive of AFH, said: "The acquisition of Chartwell continues our strategy of growing AFH both organically and by acquisition. "This transaction also marks a strategically important step for the c...