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AFH acquires Shape Financial

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Independent financial advisory and wealth management firm AFH has acquired Shape Financial.

 
The deal is AFH’s 14th acquisition since its IPO in June 2011.
 
Shape Financial is an FCA authorised, Somerset-based IFA which reported a turnover of GBP1.5m in its most recently completed financial year. This acquisition brings 16 new advisers, including all five shareholder directors of Shape Financial, to the company’s current total of 104 advisers. The new advisers will continue to operate out of Shape Financial’s Somerset-based office, broadening AFH’s presence into the South West of England.
 
AFH has paid initial consideration of GBP125,000 for the acquisition of Shape Financial. This amount has been satisfied in cash from the company’s existing resources. Additional consideration, up to a maximum of GBP1.5m in total, may be payable after 15 months and 27 months, depending on the profitability of Shape Financial in the two years following its acquisition.
 
Alan Hudson (pictured), chairman and chief executive of AFH, says: "Today’s acquisition further advances our successful strategy of growing the company both organically and through select and well-timed acquisitions. Importantly, Shape Financial is a strong cultural fit for AFH and their Somerset outpost provides a platform from which the company can extend its reach into the South West region."

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