AFH buys Hertfordshire-based IFA for up to £1.6m

Managing director Mark Hughes will join AFH as an adviser along with his team following the acquisition. Under the terms of the deal, the purchase price is expected to be between £1.2m and £1.6m - based on the ongoing profitability of the business subject to the fulfilment of certain financial targets. The firm has some 300 clients across London and the Home Counties and, according to AFH, the acquisition is expected to contribute an aggregate of approximately £600,000 a year of revenue to the company while adding more than £50m to its funds under management. It added: "The initial co...