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AFH Financial acquires CRS Financial Planning


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AFH Financial acquires CRS Financial Planning

AFH FinancialGroup Plc acquired the assets of East Anglia-based independentfinancial adviser CRS Financial Planning from Chris Stapleton on Sept. 30, for amaximum consideration of £663,670, representing about 2.6% of the funds undermanagement.

AFH Financial paid an initial cash consideration of£378,920, while further deferred consideration of up to £284,750 will be paidover the next 26 months in two tranches subject to the performance criteria ofCRS Financial Planning's acquired assets.

Following the completion of the deal, Stapleton will retirefrom the business, and clients will be serviced by existing AFH Financial Groupadvisers.

CRS Financial Planning will add about £25 million to AFHFinancial's FUM, according to the terms of the deal.