AFH Financial Group Plc
LSE : AFHP

January 16, 2014 02:00 ET

ACQUISITION OF SR WEALTH MANAGEMENT

                                                                                                          GB00B4W5WQ08
                                                                                                       16 January 2014

                                                AFH Financial Group PLC
                                               ("AFH" or the "Company")

                                          ACQUISITION OF SR WEALTH MANAGEMENT


AFH  Financial  Group  plc is pleased to announce the acquisition  of the assets of SR Wealth Management Limited  ("SR 
Wealth Management").   Today's acquisition marks AFH's first of the calendar year and the Company's seventh since  the 
implementation of the Retail Distribution Review (RDR) 12 months ago. 

SR Wealth Management, which is located in Stoke-on-Trent, has approximately GBP 10.2million of funds under  management 
and had recurring income of GBP 63,000 in its most recent financial year.  Martin Bradshaw, the owner and vendor of SR 
Wealth  Management,  has decided to leave the industry on completion of this deal  and SR Wealth Management's  clients 
will in future be serviced by existing AFH advisers.  

The  consideration for the acquisition comprises an initial cash payment of GBP 94,500;  further consideration up to a 
maximum of GBP 105,000 may be payable over the 26 month period following the acquisition, depending on the performance 
of SR Wealth Management during that period. 

Commenting on today's acquisition, Alan Hudson, Chairman and Chief Executive of AFH, said: "As expected, RDR continues 
to  drive consolidation within the industry;  we remain committed to capitalising on this opportunity by making  well-
timed, select investments that complement our dynamic business. 

We  welcome  the  clients of SR Wealth Management and look forward to providing them with  the  high  quality  service 
consistently delivered by our professional team of advisers."

             The directors of AFH Financial Group PLC are responsible for the content of this announcement

Enquiries: 

AFH Financial Group PLC                                                                      01527 577 775 
Alan Hudson, Chairman and Chief Executive 
www.afhfinancialgroup.com

Peterhouse Corporate Finance Limited                                                         020 7469 0930
Mark Anwyl or Duncan Vasey 

Yellow Jersey PR Limited                                                                     07768 537 739
Dominic Barretto or Kelsey Traynor					

Contact Information

  • AFH Financial Group Plc