Advice firm consolidator invests in 'cyborg' during bumper year

News Team, 20/01/2020

IFA consolidator AFH Financial has posted strong revenue, profit, and AUM growth, as it was buoyed by eight acquisitions with a combined value of £30.9 million.

In its results for the year to 31 October 2019, AFH’s pre-tax profits were up 76.1 percent to £13.7 million (2018: £7.8 million).

Revenues were up 47 percent to to £74.3 million, while funds under management sat at £6.2 billion, a 40 percent increase on 2018’s £4.4 billion.

Expenses were up 31.1 percent, to £22.5 million, including £1.5 million spent on technology transformation.

“We will continue to build on these technology so...

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