AFH buys £2.6m Bedfordshire IFA in 13th acquisition of 2018

Initial £1.05m

Tom Ellis
clock • 1 min read

AFH has bought Bedfordshire-based Ashton House IFA for up to £2.6m, in a deal that represents the consolidator's 13th acquisition of the year and fourth in a fortnight.

As a result of the transaction, AFH said, Ashton house founder Tony James will join the group as a financial adviser and continue to support his existing client base, "while developing the AFH presence in the Home Counties". AFH will pay an initial £1.05m for the business and could make up the rest of the £2.6m fee over the next 26 months, subject to "enhanced performance criteria". The Bedfordshire firm made a pre-tax profit of £370,000 in the year to October 2017 although, according to AFH, on a post-acquisition pro-forma basis, it would have made an estimate profit of £500,000. ...

To continue reading this article...

Join Professional Adviser for free

  • 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 Companies

Manchester firm declared failed by FSCS over pensions advice

Manchester firm declared failed by FSCS over pensions advice

Pension Advice Specialists, trading as Ashworth Wealth, no longer exists

Isabel Baxter
clock 26 March 2024 • 1 min read
Third Financial's 'laser-like' focus following Nucleus acquisition

Third Financial's 'laser-like' focus following Nucleus acquisition

‘Adviser platforms are more nuanced than just outsourced versus in-house’

Isabel Baxter
clock 26 March 2024 • 3 min read
Fairstone makes first advice firm buy of 2024 adding £110m in assets

Fairstone makes first advice firm buy of 2024 adding £110m in assets

Consolidator acquires Nottingham-based James Ryan Thornhill

Isabel Baxter
clock 26 March 2024 • 1 min read