Consolidator AFH has completed the acquisition of J W Wealthcare, a Chichester-based financial advice business.

AFH will pay a consideration of £1.1m in cash in four tranches over the coming 26 months based on the performance criteria of the acquired entity. The deal adds around £300,000 of recurring revenue to AFH’s books.

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J W Wealthcare head John Walpole will join AFH as an adviser, as part of the deal.

AFH CEO Alan Hudson said: “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 1st 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.”