AFH, the advisory business consolidator, has acquired JW Wealthcare in a £1.1m deal. John Walpole, the director of the West Sussex-based JW Wealthcare, will join AFH as an adviser.
Alan Hudson, AFH’s chief executive, commented on the transaction:
“I am pleased to welcome John to AFH and look forward to working with him to continue our growth within the south east.
“This acquisition, our second since 1 November, highlights the continued high level of activity that we are seeing in the market and continues our strategy of enhancing our organic growth with selective acquisitions.”
The merger is expected to bring in £300,000 of recurring revenue to AFH.
AFH has seen strong external growth this financial year: this latest consolidation means that AFH has snapped up a total of fifteen firms this financial year. Subsequent to high activity in the consolidation market, AFH has seen its funds under management to rocket to over £2.5bn, while revenue has increased by over 35% in the year to the 31st October.
