The acquisition trail at wealth management firm AFH Financial continues apace after the outfit acquired Hindsight Financial Services and a sole trader's client bank.
Bromsgrove-based AFH said today the deal would add a further £15 million to its total fund under management.
since in June and the 11th since the implementation of the retail distribution review.
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Acquiring Northampton-based Hindsight brings the total fund under management at AFH to £840 million and adviser headcount to 136.
Under the terms of the acquisition, the maximum consideration payable by AFH is £281,250, satisfied by an initial cash payment upon completion of £140,625, followed by a further cash consideration of up to £140,625, payable over the next 26 months and dependent on performance criteria.
Hindsight's director Trevor Dimmock will join AFH as an adviser and continue to service his clients.
In addition, AFH announced today it had acquired the client bank of Cardiff-based Jeff Seward & Partners for up to £45,000.
It said the move supported AFH's acquisition strategy of buying sole traders who wished to retire and exit the industry.
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These clients will be serviced by existing AFH advisers.
AFH chief executive Alan Hudson 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 海角视频 and continuing to grow shareholder value."