Whole investment team moving over
Reducing investor choice
Five deals in its sights
'In talks for several months'
Creates $560bn AUM entity
Consolidation in the wealth sector
Two very different mandates
Investors voted in favour of the merger
Consolidator AFH Financial has acquired two more advisory firms, bringing its total acquisitions in the last year to twelve.
Tavistock Investments has taken over Duchy Independent Financial Advisers, continuing a wave of consolidation in the IFA market.
Wealth consolidator AFH has made its tenth deal in less than a year with the acquisition of a national advisory firm.
IFA consolidation business AFH has bought Clarendon Financial Solutions for £461,000.
Adviser firm consolidator AFH Financial Group has acquired the assets of CIB Wealth Management, including its five advisers and principal, in a deal worth up to £973,000.
Consolidator AFH Financial has acquired Kidderminster-based advice firm K.L. Plester Financial Services for £1.7m.
Fund rationalisation may be coming to an end after a few years of groups actively cutting their product ranges, according to Fitch Ratings.
Asset managers are entering an era of fund rationalisation as cost pressures mark the beginning of the end for oversized product ranges, according to Threadneedle's Nick Ring.
Pressure from cheap passive investment products will put pressure on active managers to justify the fees they charge, said Jupiter's Edward Bonham Carter.