Monday, 13 November 2017 08:55

AFH buys Colchester Financial Planner for £2m

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Rapidly expanding Financial Planning business AFH has acquired Colchester-based Financial Planner Britton Financial for £2m, adding £57m of funds under management.

Britton Financial has clients in East Anglia, London and the Home Counties and offers a “comprehensive Financial Planning service” as well as wealth management and general IFA advice.

AFH, founded by Chartered Financial Planner Alan Hudson, has acquired over a dozen firms in the past year and now serves almost 9,500 clients, with £2.7bn under management.

AFH says the purchase of Britton Financial continues the group’s twin-track expansion strategy, which includes merging with other companies and continuing to grow its client base through its team of 165 financial advisers who cover the UK.

Britton Financial boss Ken Kerr says he had several offers for his business but decided the AFH offer “represented the best deal for his clients” even though it was not the highest.

Mr Kerr said: “I wanted to leave my clients in good hands, with a company that shared my view that clients come first. Many of the other firms that approached me were looking at increasing fees and I know that’s not the way AFH sees its business.”

“AFH’s offer wasn’t the highest I had but I believe it’s the best outcome for my clients.”

AFH chief executive Alan Hudson said: “At AFH we only take on businesses that share our vision of putting clients first and as soon as I met Ken I knew here was someone I wanted to do business with.

“I’m looking forward to continuing his great work of looking after his clients in East Anglia and the South East. We’ll also be looking to taking on more clients in East Anglia, the South East and right across the UK.”

AFH Financial Group was founded by Chartered Financial Planner Alan Hudson in 1990. It is based in Bromsgrove, Worcestershire, and its turnover in the financial year to 31 October 2017 was £33m, up from £24m the year before, and in the same period its funds under management grew from £2bn to £2.7bn. Since 2014 it has been listed on AIM.


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