AFH Financial makes acquisition to add £15m FUM
The Board of AFH has announced the acquisition of Hindsight Financial Services, marking the Company's third acquisition since listing on AIM in June 2014 and the eleventh since the implementation of RDR.
This acquisition will immediately add £15m of funds under management, bringing the Company's total funds under management to £840m and total adviser headcount to 136.
Hindsight's director, Trevor Dimmock, will join AFH as an adviser and continue to service his clients. The acquisition was completed on 11 September 2014.
Commenting, Alan Hudson, Chief Executive of AFH, said:
"Today's transaction sees further geographical expansion of the AFH brand and continues to underpin the Board's strategy of growing the business both organically and through select and opportune acquisitions.
"In a period of less than three months since moving from ISDX, the Company is beginning to see the benefits of its AIM listing. The Board remains focused on building a significant footprint within the UK and continuing to grow shareholder value."
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