Listed IFA completes its 14th acquisition

Listed IFA AFH has acquired Shape Financial, the 14th acquisition by the company since its flotation in June 2011, for an undisclosed sum.

Shape Financial is an authorised, Somerset-based IFA which reported a turnover of £1.5m in its most recently completed financial year.

This acquisition brings 16 new advisers, including all five shareholder-directors of Shape Financial, to the company’s current total of 104 advisers. The new advisers will continue to operate out of Shape’s Somerset-based office.

At the end of March, AFH reported a 34 per cent year-on-year increase in revenues following a series of acquisitions in the lead up to the Retail Distribution Review, which have seen it increase adviser numbers by around 60 per cent.

Alan Hudson, chairman and chief executive of AFH, said: “Today’s acquisition further advances our successful strategy of growing the company both organically and through select and well-timed acquisitions.

“Importantly, Shape Financial is a strong cultural fit for AFH and their Somerset outpost provides a platform from which the company can extend its reach into the south west region.”