At its AGM today (6 March) chairman John Wheatley will update shareholders on the firms’s takeover plans.
He will tell shareholders: “"Following a period of consolidation and whilst continuing to focus on cash generation and the organic growth of the business, the group remains open to executing further acquisitions should suitable opportunities present themselves, with a focus on smaller IFAs and larger businesses where the majority of advisers are employed or equity participants in the target company.”
The company acquired eight adviser firms during 2019 but said last year it would focus more on organic growth in the short term.
Mr Wheatley will tell the AGM 2019 was “another successful year” for the company which is aiming to become the “leading Financial Planning-led wealth manager” in the UK.
The group, led by Chartered Financial Planner Alan Hudson, generated revenues of £74.3m in 2019, up 46% from 2018. At the year end, the company had Funds Under Management of over £6bn.
Mr Wheatley added: “(In 2019) we continued to implement operational efficiencies and improve the customer experience for our clients by investing in technology and infrastructure and reducing investment costs by leveraging the increased scale of AFH.
Mr Wheatley said the first four months of the current company financial year had seen continued growth. There would be further investment in infrastructure, technology and management.
He said the firm expected to see demand for professional Financial Planning to “accelerate” in the future and for the consolidation within the sector to continue.
The AGM will take place in Bromsgrove today at 11 am.