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AFH acquires Specialist Solutions

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Discretionary wealth management and independent financial advisory (IFA) firm AFH, has acquired Specialist Solutions, a Cheltenham-based IFA with approximately GBP80m of funds under advice. The deal is AFH’s eighth acquisition since the Company’s IPO last year.

Specialist Solutions reported turnover of GBP1.16m, with gross profit of GBP498,000, in the year to
September 2011.

Under the terms of the agreement, AFH will pay an initial consideration of GBP100,000 from its existing
resources, with up to GBP625,000 in deferred consideration payable over the following 24 months. As part of
the agreement, AFH is purchasing the assets and goodwill of Specialist Solutions but is not assuming any
advice liability incurred prior to the acquisition.

This acquisition will bring the Company’s total number of advisers to 88 advisers, up from 53 at the time
of the Company’s IPO. The new advisers will operate out of AFH’s Bromsgrove headquarters.
 

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