News

Harwood Wealth
25
Sep

AFH acquisitions continue with Beaufort Securities Ltd & Beaufort Asset Clearing Services Ltd

The Board of AFH, a leading financial planning led wealth management firm, has announced the completion of the acquisition of the client portfolios of the Colwyn Bay office from the joint special administrators of Beaufort Asset Clearing Services Limited and the joint administrators of Beaufort Securities Limited. As a result of the transaction Laurie Beevers and Andrew Jones intend to join AFH Private Wealth Limited and continue to advise the clients of the Colwyn Bay office.
Under the terms of the acquisition, the consideration for the acquisition is £250,000 in cash, funded from the Company’s existing cash resources. Following an initial payment of £50,000 the balance will be paid on the achievement of certain milestones. The transaction will add up to £130m of Funds under Management to the Company.
Commenting, Alan Hudson, Chief Executive of AFH, said:
“This acquisition will strengthen AFH Private Wealth Limited, adding new clients, together with their significant portfolios, and bringing the experience of Laurie and Andrew to the Company. I am pleased that this transaction will provide the clients of Beaufort’s Colwyn Bay office with greater security for the future and access to the AFH Group proposition”.
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Gunner & Co. work with IFAs looking to sell their business, and can give you more information on selling to AFH if you wish – contact louise.jeffreys@gunnerandco.com