Kingswood buys Rotherham firm in second South Yorkshire deal in a week

Rotherham-based AFS has three financial advisers and five support staff who look after more than £140m for 400 clients. The firm generated £790,000 in revenue in the year up to 31 March 2021 and £355,000 pre-tax profit. The deal, once it gains regulatory approval, will see AFS acquired for £1.25m in cash up front and a further £1.25m paid on a deferred basis over two years, some of which Kingswood said is subject to pre-agreed performance targets. The acquisition will take Kingswood's UK assets under advice past £6.5bn and its transatlantic assets past £8bn. Kingswood said the deal wo...