Wealth manager AFH Financial has bought Bay Financial Management, an IFA firm based in Honiton, Devon, in a deal that adds approximately £73m to AFH's funds under management and could ultimately be worth up to £1.4m, depending on performance.
According to AFH, an initial payment of £595,000 was made from its existing cash resources as the deal completed. Further deferred consideration of up to £805,000 will be payable over the next 24 months...
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till