AFH has acquired Taylor Frost Wealth Management for £1.2m
Taylor Frost Management is an IFA based in the South West of London. Keith Taylor is to join AFH as an adviser.
The deal consists of a maximum consideration of £1,245,000, made up of an initial cash payment of £595,000 and a further deferred payment of up to £650,000. This will be payable in cash over the next 26 months in two tranches, dependent upon performance criteria of the assets acquired.
The initial payment was satisfied from AFH’s existing cash resources.
It’s the fourth acquisition made by AFH this current financial year and it will add around £45m to the group’s funds under management.
Chief Executive of AFH Alan Hudson said: “This acquisition will establish AFH in London and 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.
“The success of our acquisition strategy and our ability to integrate numerous acquisitions was set out in the statement on our full year results reported on Monday. We continue with this disciplined approach and have a strong pipeline of future acquisition opportunities.”