Consolidator AFH takes assets beyond £900m with buy

clock

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...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Rishi Sunak

Sunak's IHT removal rumour sparks cautious optimism

Prime minister ‘refuses’ to comment on government’s plans to scrap IHT

Sahar Nazir
clock 25 September 2023 • 4 min read
Timeline secures £10m funding to double £3bn AUM size

Timeline secures £10m funding to double £3bn AUM size

The MPS provider secures Series B funding for national expansion

Sahar Nazir
clock 25 September 2023 • 1 min read
Client investment value the focus of new Defaqto adviser tool

Client investment value the focus of new Defaqto adviser tool

Consumer Duty compliance central to the development of new offering

Sahar Nazir
clock 25 September 2023 • 1 min read