AFH purchases Hayburn Rock

The Midlands-based financial adviser, Hayburn Rock Financial Planning, has been acquired by AFH Wealth Management for a maximum of £3.5m, with an initial payment of £900k.. The transaction will include the transfer of four IFAs, six mortgage advisers, as well as director and co-founder of Hayburn Rock, Stephen Perks, to AFH’s adviser team.
“Boosting AFH’s funds under management by more than £100M, the deal could be worth almost 3.5% of FUM – a large premium on typical valuations we see in the market at the moment” commented Louise Jeffreys of Gunner & Co.
Alan Hudson, chief executive of AFH, spoke about the acquisition: “I know that Steve and his team will be a good fit at AFH, and their clients will appreciate the combination of big-company expertise and the dedicated attention of advisers they know and trust.
“This deal, our first of 2019 and fourth of this financial year, shows AFH remains the company of choice for advisers who want to grow their business while improving their service to clients.”
Stephen Perks also commented: “In 23 years we’ve managed to build up a medium-sized business, but the industry has changed in that time, and ‘medium-sized’ businesses just don’t make sense any more.
“The time we have to spend on administration and regulatory compliance means we’re just not able to grow and give new clients the 100 per cent of our time we think they deserve. AFH will give us the support and expertise we need, and the group’s economies of scale and great client proposition mean our clients will be getting an all-round better deal while continuing to have us looking after them.”
Gunner & Co. work with AFH on business acquisitions.  If you would like to know more about selling your business, contact