Advice consolidator AFH has bought a York-based financial advice business in a £2.9m deal.
The acquisition of Corville Financial is AFH’s ninth deal of 2018.
As part of the deal Debbie and Nick Burchall will join AFH as advisers together with one employed adviser and a small support team.
Alan Hudson, chief executive of AFH, said: “This latest acquisition, our eighth of the financial year, continues to consolidate our national distribution within the core AFH client base.
“I am pleased to welcome Debbie and Nick together with their team to AFH and look forward to working with them to consolidate our presence in North Yorkshire and continue our growth for the benefit of our new clients and to increase shareholder value.”
The initial price for the acquisition is £1.46m in cash, funded from AFH’s existing cash resources.
A further sum will be payable in cash over the next 26 months in two tranches, subject to performance criteria.