AFH acquires Herefordshire IFA in £486k deal

Robert Magee manages about £27m worth of assets on behalf of some 550 clients and, in its most recent full-year results, reported recurring revenues of about £136,000. The acquisition, AFH's 18th since June 2011, will involve an initial cash payment of £204,000 from its existing resources, followed by a further cash consideration of up to £282,000, depending on the performance of Robert Magee in the 26 months following completion. Alan Hudson, chairman and chief executive of AFH, said: "I am pleased to report this further enhancement of our client base and the funds that we manage. ...