An IFA business based in the north west of England has been bought by a Financial Planning group in a deal worth just under £300,000.

AFH, which describes itself as a Financial Planning led wealth management group, has acquired the assets of David Rushden Associates in Lancashire.

It is the latest in a long line of deals wrapped up by the consolidator.

Following the acquisition David Rushden, who is selling his firm, will join AFH.

The maximum consideration payable by AFH is £298,125, representing approximately 1.8% of the funds under management.

An initial cash consideration of £157,500 has been paid upon completion, satisfied from the company's existing cash resources.

Further deferred consideration of up to £140,625 will be payable in cash over the next 26 months in two tranches, dependent upon performance criteria of the assets acquired from David Rushden.

In October, CRS Financial Planning, an East Anglian based business, was bought out in a deal worth up to £663,670.

Chris Stapleton, the seller, planned to retire from the business once the deal was completed and clients will be serviced by existing AFH advisers.