The spending spree seen by AFH in the past few months has been largely down to chance, according to the company's chief financial officer.
Over the course of 2018 so far AFH has bought 17 advice firms, with nine of these since late August, but Paul Wright said some of these deals had been in the pipeline for months.
He said: "We are certainly seeing a lot more activity in the market and opportunities but in terms of the recent deals, some of those had been in discussion for six to nine months and had been delayed for various reasons.
"They weren't all scheduled to come through at the same time. It was really just a coincidence."
AFH's latest acquisition was announced this morning, with the £890,000 deal to buy a Kent-based CWP Financial Services.
During 2016 AFH made 14 acquisitions and last year the company made 16, so the deal to buy CWP means 2018 has been AFH's busiest for several years.
This year AFH raised £32.5m by issuing shares, including £15m in October despite market volatility but Mr Wright said the company would not rush to spend this.
He said: "We see opportunities in the market but we don't feel we are being pressured to spend the money.
"We are not going out and saying we need to buy something in this city but we certainly see ongoing opportunities."
Yesterday (November 12) AFH revealed its funds under management had grown from £2.8bn in October 2017 to £4.5bn in the same month this year.
The company's recent buying spree also helped boost its revenues, pushing them up by 49 per cent to more than £50m in the 12 months to the end of October.
damian.fantato@ft.com
