AFM Wealth secures £5.3m acquisition war chest

'Financial firepower'

Jenna Brown
clock • 2 min read

AFM Wealth, the holding company of IFA firm Absolute Financial Management, has secured a £5.3m loan package from OakNorth Bank to support its acquisition strategy.

Absolute Financial Management was founded in 1999 by Mark Eaton and Spencer Watt; it has more than 4,500 clients and AUM exceeding £500m. Its holding company, AFM Wealth, was set up in February 2020 after investment by Phil Hughes. Absolute provides financial advice for both businesses and individuals. It has a branch network across South East England, including in Ashford, Bognor Regis, Hastings and Colchester. AFM Wealth's acquisition programme has seen it acquire six small IFA firms since February 2021, including, Cheesman & Groves, Manor Hurst Associates and most recently, Granite...

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