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AFH embarks on public charm offensive

AFH embarks on public charm offensive

The chief executive of AFH has said the advice consolidator will begin actively promoting itself to the general public in the coming months in a bid to become a household name.

Alan Hudson said he wanted the general public to start becoming more familiar with the company and what it does - and is throwing a seven figure sum at the project to make that happen.

He said: "We have, in the past, not spent any money on marketing but this year we have a £1m budget. Over the past 18 months we have built a marketing team which is now 10 strong.

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"This is the year where we need to get our strategy out there and get people realising what we are about."

Last week Mr Hudson said AFH now has the scale to pressure fund managers and providers for cheaper deals to pass on to its clients.

He revealed AFH has already reached deals with six fund management companies to run segregated mandates on the company's behalf, which he said would provide a saving of between 15 and 22 per cent for clients.

Mr Hudson said AFH would be doing more to actively promote this part of its strategy, saying he felt it would be "well-received" by the public.

He added that AFH would continue to be very busy on the acquisition front and that it has a "healthy pipeline" of potential deals.

During its 2017 financial year, the Aim-listed company bought 13 financial advice firms as well as a financial protection broker.

Mr Hudson said: "We are currently sat on £25m in cash we have raised to buy businesses and we continue to do that but our organic growth is going extremely well as well."

damian.fantato@ft.com