AFH, the rapidly expanding Financial Planning-led wealth management firm, has acquired Monopoly Financial Consultants Limited of Rickmansworth, Hertfordshire for a maximum price of £631,000.

Following the acquisition Nigel Parbrook of Monopoly will join AFH as an adviser. Under the terms of the deal, the maximum purchase price is £631,000 subject to the fulfilment of certain financial targets. The acquisition is expected to contribute approximately £170,000 of recurring revenue to AFH.

The initial consideration for the acquisition is £333,000 in cash, funded from AFH’s existing cash resources. Further deferred consideration will be payable in cash over the next 26 months in two tranches, depending on the performance criteria of the business acquired.

Alan Hudson, chief executive of AFH, said:  "This is our third purchase of an IFA business for the current financial year, reflecting our strong pipeline of acquisition targets.

“This latest acquisition further increases our capacity in the South East of England and I look forward to working with Nigel for the benefit of our new clients and to increase shareholder value."

Monopoly has seven staff in total specialises in financial advice and holistic Financial Planning. Mr Parbrook also specialises in the area of divorce financial advice.

AFH, founded by Chartered Financial Planner Alan Hudson, has acquired well over a dozen firms in the past year and now serves almost 9,500 clients, with £2.7bn under management.

AFH Financial Group was founded by Alan Hudson in 1990. It is based in Bromsgrove, Worcestershire and its turnover in the financial year to 31 October 2017 was £33m, up from £24m the year before, and in the same period its funds under management grew from £2bn to £2.7bn. Since 2014 it has been listed on AIM.