Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Wealth firm to join AIM to fund 'strategic' acquisitions

Wealth firm to join AIM to fund 'strategic' acquisitions

AFH Financial has outlined plans to move to  AlM market in the second quarter to fund a fresh acquisition spree.   

Shares in the wealth and advisory firm are currently listed on the ISDX Growth Market and it believes a switch to AIM will provide it with better growth opportunities.  

In a statement to the Stock Exchange, AFH said it believes it has made sufficient progress to join AIM and that the move would help the company attract new investors and improve its profile.  

The Bromsgrove-based firm also said the float would help it raise capital to fund acquisition opportunities.  

AFH chief executive Alan Hudson (pictured) told the market ‘We believe that given the fundamentals of the business and the nature of  the  IFA market, the time has come for a move to AIM.  

‘The increased profile will assist the company in its aim to expand through strategic acquisitions and organic growth.’

AFH employs more than a 100 wealth advisers and provides an discretionary investment management service controlled by a team of 20 investment managers.

In January the firm acquired Stoke-on-Trent-based SR Wealth Management for around £200,000, its 20th acquisition since it listed on the ISDX in 2011.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Picton: the UK property hotspots for rental income

Picton: the UK property hotspots for rental income

Picton Property Income CEO Michael Morris reveals how he is planning to ride the ‘ripple effect’ as UK economic growth spills out from the capital across the country.

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

This week Brewin Dolphin's head of research talks to Mike Riddell, fund manager at Allianz Global Investors, about the forces driving bonds markets in a tumultuous week for markets.

Play Henderson's Hermon: how to be defensive in smaller caps

Henderson's Hermon: how to be defensive in smaller caps

Hermon, who manages the Henderson Smaller Companies trust, talks about he will tackle a 'challenging' 2016.

Your Business: Cover Star Club

Profile: 'what we are doing at Mosaic is Darwinian'

Profile: 'what we are doing at Mosaic is Darwinian'

The changes in financial services over the last few years may leave some destitute warns Marco Sambucci of Mosaic Money Management

Wealth Manager on Twitter