Consolidator AFH Financial acquires advice firm for £1.7m

Laura Miller
clock

Consolidator AFH Financial has acquired Kidderminster-based advice firm K.L. Plester Financial Services for £1.7m.

The acquisition of Plester, which was completed on 9 February, is the seventh acquisition since AFH listed on AIM in June 2014 and the fourth during the current financial year. The Plester acquisition will add approximately £600,000 per year of recurring revenue to AFH, the consolidator said. Jon Rowe and Keith Plester's clients will be taken over by AFH's existing advisers following their retirement on completion. Peter Machin, a director and shareholder of Plester, will join AFH with immediate effect as a financial adviser. Under the terms of the acquisition, the maximum cons...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers expecting more of asset managers since Consumer Duty

Advisers expecting more of asset managers since Consumer Duty

‘We actually need to understand one another better’

Hope Coumbe
clock 28 March 2024 • 1 min read
Fears tech limitations could stall MPS on its upward trajectory

Fears tech limitations could stall MPS on its upward trajectory

‘There have been a few changes and challenges around growth in general’

Hope Coumbe
clock 27 March 2024 • 1 min read
Partner Insight: Beyond 60/40

Partner Insight: Beyond 60/40

Invesco
clock 27 March 2024 • 5 min read