Serial IFA acquirer AFH Financial has announced it will target £10 billion in funds under management by 2024, as it continues to take advantage of consolidation in the sector.

AFH reported its full-year results this morning for the year ending 31 October 2018, with its after-tax profit of £6 million up 94 percent on 2017’s £3.1 million. This was against revenue of £50.7 million, up 51 percent on the prior year (2017: £33.6 million). Pre-tax profit was £7.8 million, versus £3.5 million in 2017.

This was despite its expenses for the year increasing 39 percent, from £12.3 million in 2017 to £17.1 million.