AFH, a financial planning led wealth management firm, has snapped up York-based Corville Financial Services Limited.
The consolidator will pay a maximum consideration of £2.9m for the deal, which includes an initial cash consideration of £1,467,200 financed from its existing resources.
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The remainder will be paid in cash in two tranches over the next 26 months, based on the performance of the acquired entity.
Corville directors Debbie and Nick Burchall will move to AFH as advisers, alongside an employed adviser as well as a small support team.
AFH CEO Alan Hudson said: “This latest acquisition, our eighth of the financial year, continues to consolidate our national distribution within the core AFH client base.
“I am pleased to welcome Debbie and Nick together with their team to AFH and look forward to working with them to consolidate our presence in North Yorkshire and continue our growth for the benefit of our new clients and to increase shareholder value.”
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