Financial Services
Job Search

Client & Candidate Testimonials.
  • 'I am very grateful as my income has now increased substantially.'
    (Mr P, Bristol)
  • 'Flexible enough to take on short term campaigns and filled our vacancies in record time.'
    (Major Life Company)
  • 'Professional and reliable service nationally.'
    (Major Bank Assurer)

Latest Financial Services Careers News

Thursday March 2020, 00:00:00
COVID 19
Thursday November 2019, 00:00:00
Self Employed womens pensions
Wednesday August 2018, 00:00:00
AFH brings forward timeline on scrapping platform fees
Tuesday May 2018, 00:00:00
Lighthouse Group has renewed its contract with the Royal College of Nursing
Saturday May 2018, 00:00:00
GDPR for Financial Advice Firms
Back To News Results

AFH Buys London based Parker Sage

Thursday June 2017

AFH buys London-based Parker Sage for up to £5.6m Group's seventh IFA acquisition of financial year.

AFH has completed its seventh acquisition of the financial year, buying the entire issued share capital of London-based Parker Sage Independent Financial Advisers in a deal that could ultimately be worth £5.6m. Parker Sage provides independent financial advice in Canary Wharf, London and the northern home counties and, following the deal, directors Jon Cliston, Tony Goody and Andrew Smith have joined the AFH Group. Financial planning-led wealth manager AFH confirmed that, under the terms of the acquisition, the initial purchase price of £4.5m could be increased to a maximum consideration of £5.6m, based on a targeted increase in the profitability of Parker Sage over the next 24 months. The company added the initial consideration for the acquisition would comprise £1.875m in cash, funded from its existing cash resources, and £375,000 of ordinary shares in AFH based on the average midmarket share price of AFH ordinary shares over the last five trading days. Further deferred consideration of up to £3.35m in cash will be payable over the next 24 months in two tranches, "dependent upon the performance of Parker Sage Advisers over the period being satisfied". Highlighting the deal as AFH's seventh IFA acquisition this financial year, chief executive Alan Hudson said: "Parker Sage will be integrated in line with our established model to enhance shareholder value during the current financial year. Parker Sage's directors are very successful advisers who share both our values and vision for the future of the sector. I look forward to working with them for many years to come." For the 12-month period ended 31 August 2016, Parker Sage generated revenue of £2.2m, of which £1.5m was recurring, and reported profit before tax of £1.2m. On the basis of trading since September 2016, AFH has estimated ongoing revenues could exceed £3m per annum in the 12-month period to September 2017.

Privacy Policy | Terms & Conditions | Contact | Sitemap

Certified Financial Planner Jobs | Address: CFP-Jobs, DL3 0TW Darlington , United Kingdom | Phone: 07712 899683


web hosting and web design