Consolidator AFH takes assets beyond £900m with buy

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AFH Financial has acquired the assets of Cornwall financial planning business Knight O'Byrne for a possible £1.2m.

The acquisition adds £51m of funds under management, taking the company's total above £900m. Chartered financial planner Diane Knight and Bridget O'Byrne will join AFH as advisers. AFH could pay a maximum £1.2m for the assets, comprising an initial sum of £525,000 followed by three further considerations totaling £675,000 which will be dependant on performance. Knight O'Byrne represents AFH's fourth acquisition since it listed on AIM in June. Chief executive Alan Hudson said: "AFH further cements its position as a leading UK IFA by selective acquisitions including Knight O'Byrne. C...

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