Listed wealth manager AFH Financial has bought South West London-based IFA Taylor Frost Wealth Management for £1.25m.
The firm paid an initial £595,000 in cash upon completion and has earmarked a further £650,000 to be paid in two tranches over the next 26 months, dependent on the performance of the firm.
Taylor Frost will add about £45m to AFH's funds under management and will establish AFH in London, chief executive Alan Hudson said. Following the acquisition Keith Taylor will join AFH as an adviser.
Hudson said: "I look forward to working with Keith and our South East based advisers to develop our presence in the capital. Keith has built a strong reputation in the medical and dental sectors which I believe will enable AFH to build a specialised service to this sector on a national scale."
This was AFH's fourth acquisition in the current financial year following the buyouts of Aberdeen Wealth Management and Shield Direct earlier this month.
In December it acquired Lancashire-based IFA David Rushton Associates, which saw vendor David Rushton join the firm.
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