AFH buys client portfolios of Beaufort Securities' Colwyn Bay office

The consolidator business, which yesterday bought the client portfolio of Wiltshire-based Emery Little Financial Services for up to £1.6m, said the deal would be funded from its existing cash resources. An initial payment of £50,000 will be made to the joint special administrators of Beaufort Asset Clearing Services and the joint administrators of Beaufort Securities, with the balance paid on the achievement of certain milestones. As a result of the transaction, which adds up to £130m of funds under management to the business, Laurie Beevers and Andrew Jones intend to join AFH Private We...