IFA consolidator makes two further acquisitions

IFA consolidator AFH Financial has acquired the assets of two advisory businesses, adding £55m in client funds.

The deals for Oxfordshire-based Roxborough Consultancy and First Class Financial Management in West Bromwich were completed in December and represent the fifth and sixth acquisitions since AFH listed on AIM in June 2014. Under the terms of the acquisition of Roxborough, the maximum consideration payable is £911,760 in cash - with an initial payment of £476,760 - followed by a potential further £435,000 payable over the next 26 months depending on performance. Under the terms of the acquisition of the assets of First Class, the maximum consideration payable by AFH is £84,000. AFH sa...