AFH has completed the acquisition of the assets of Arden Financial Consultants and the share capital of Martin Cooper Wealth Management, both based in the West Midlands, for a combined maximum price of £1.4m.
The deals see Kevin Hobbs, Steve Down and John Kirkland join the financial planning-led wealth management business as advisers while the other vendors will retire and their clients will be serviced by existing AFH advisers. According to AFH, the acquisitions are expected to contribute an aggregate of approximately £430,000 of recurring revenue to the business and add £50m of funds under management. It added that the initial consideration for the acquisitions would be £0.7m in cash, funded from the AFH's existing cash resources. Further deferred consideration of up to £0.7m in cash wil...
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