AFH sees funds under management exceed £4bn

AFH sees funds under management exceed £4bn

Advice consolidator AFH has seen its funds under management exceed £4bn.

The company said this followed "consistent organic net inflows" combined with the acquisitions it has made in recent months.

Alan Hudson, chief executive of AFH, said in an update this morning (19 September): "In January 2017 the company set out a number of financial aspirations, including having £5bn of funds under management by 2021, an increase of 150 per cent above the £2bn level at that time.

"The company is now seeing organically generated funds under management in excess of £30m a month. In addition, we have benefited from recent acquisitions and remain confident that we will exceed our target funds under management earlier than originally planned."

Recent weeks have seen AFH make a number of acquisitions in swift succession, with four deals - worth a combined £14.5m - reached in the space of two weeks at the end of August.

So far in 2018 AFH has made 13 acquisitions, with its largest of the year so far being the £5.1m buyout of Chesterfield-based HTH Group.