AFH has 'significantly expanded' its presence in the north east of England with the acquisition of CTL Three plus five subsidiaries in a deal worth up to £10m - the largest in the consolidator's 27-year history.
As a result of the transaction - which also takes in CTL subsidiaries The Insurance Partnership Financial Services, PCWM, IFA Professional Planning, Private Client Wealth Management (Yorkshire) and Kirk Ella Investments - Paul Hodgson, Paul Newman, Shane Beardsley and Victoria Hicks, together with 22 advisers and their support staff, will join AFH, bringing more than £530m of funds under management (FUM). AFH revealed the initial consideration for the acquisition would be satisfied by a cash payment of £4.2m, funded from its existing cash resources, and the issue of 26,178 ordinary 10p s...
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