AFH, a financial planning led wealth management firm, has acquired the assets of Taylor Frost Wealth Management, an IFA business based in South West London.
Following the acquisition, Keith Taylor will join AFH as an adviser.
Under the terms of the acquisition, the maximum consideration payable by AFH is GBP1,245,000. An initial cash consideration of GBP595,000 has been paid upon completion, satisfied from the company’s existing cash resources. Further deferred consideration of up to GBP650,000 will be payable in cash over the next 26 months in two tranches, dependent upon performance criteria of the assets acquired.
This is AFH’s fourth acquisition of the current financial year and follows the acquisitions of Aberdeen Wealth Management and Shield Direct earlier this month.
Taylor Frost will add approximately GBP45 million to AFH’s funds under management.
Alan Hudson, chief executive of AFH, says: “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.”