Worcestershire based National IFA, AFH has acquired Lancashire-based David Rushton Associates for approximately £298,100. AFH, who maintain they are not a consolidator in a recent report, will pay an initial fee of £157,500 to purchase the firm, to be followed by a carried-over payment totalling close to £140,600 across the next two years.
Detailing £2 billion of assets under advice in the latter half of October this year, David Rushton Associates boasts a further £16.5 million to add to AFH’s funds under administration. After the deal’s completion, David Rushton, the firm’s Director will join AFH as an advisor.
AFH’s Chief Executive, Alan Hudson, backed this recent acquisition to be part of a growth strategy to expand across the North West, he detailed, “This acquisition will strengthen our position in the North West and I look forward to working with David (Rushton) to continue the development of AFH in the region”.
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