AFH buys IFA Broadleaf for £3.2m

Four advisers from Broadleaf will join AFH, along with their support staff. The deal brings £140m of funds under management. AFH said the initial payment of £1.7m was paid from existing cash reserves, with the balance payable in cash over a 26-month period.  The consolidator said the maximum consideration of £3.2m was subject to the performance of Broadleaf over the next two years. Following the acquisition, John Shaw, principal adviser and director and one of the founders of Broadleaf, together with his fellow directors, have retired from the business. AFH chief executive Alan Hud...