Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of 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 Navigating geopolitical risk with ETFs

Navigating geopolitical risk with ETFs

ETFGI’s Deborah Fuhr on how investors can use exchange-traded funds to position their portfolio.

Play Sarasin’s Boucher: why I like salmon with chocolate

Sarasin’s Boucher: why I like salmon with chocolate

Henry Boucher, manager of the £129 million Sarasin Food & Agriculture Opportunities fund, explains why he is gobbling up salmon and chocolate stocks.

Play Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Libby Ashby and leading wealth managers analyse what the Alibaba IPO hype means for Chinese equities, slowing growth of the UK economy and whether there’s anything left to play for in the European sovereign bond market.

Wealth Manager on Twitter