AFH completes acquisition of Barnsley-based IFA

Initial price of £257,000 in cash

Victoria McKeever
clock • 2 min read

AFH has completed its acquisition of Barnsley-based IFA Lifetime Investment & Seminar Services, in a deal that will see the firm's principal Mark Penty retire.

Lifetime Investment & Seminar Services' 300 clients, who are based primarily in South and West Yorkshire and Lincolnshire, will now be served by AFH advisers. Initial consideration will be £257,000 in cash, funded by AFH's existing cash resources. Further deferred consideration - up to a maximum purchase price of £0.5m - will be payable in cash over the next 26 months in two tranches, subject to performance criteria of the assets acquired being achieved. Set up by Penty in 2011, Lifetime Investment & Seminar Services specialises in presenting retirement seminars and providing investme...

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