AFH Financial Group has collaborated with Harrogate-based Premier Wealth Management in a deal worth up to £4.5m.
PWM boss Richard Evans has more than 35 years’ experience, having worked at senior level for 3 of the UK’s major insurance companies for 20 years and been an IFA since 2006.
Bristol-born Richard will continue to serve his 470 clients across Yorkshire, Bristol and Lincolnshire.
He will now join AFH’s adviser team, as will his colleague, Leeds-born Andrew Huby, who will join AFH’s growing cadre of employed IFAs.
Andrew has been an IFA for more than 25 years, having worked at Yorkshire Bank and Skipton Building Society. Andrew is also authorised to advise on complex pension arrangements like occupational pension schemes.
Their colleague Tom Frane, who started work at PWM in 2017 after graduating from the University of York, will also move over to AFH as a trainee IFA.
Richard’s daughter Lottie, who also joined PWM in 2017 after graduating from the University of York, will continue to manage the team’s offices just outside Harrogate.
Richard said: “For a while it’s been clear that to take the business to the next stage we needed to become part of a larger organisation.
“Frankly with the likes of MiFID and PI costs it’s becoming impossible to deliver the proposition we want for our clients at a cost that’s competitive. With AFH we’re going to be able to drive costs down for our clients while delivering a great investment proposition.”
AFH chief executive Alan Hudson said: “It’s great to welcome Richard, Andrew, Tom and Lottie to the AFH family.
“The different tracks they’re taking in joining us highlight our commitment to the future of the industry. And I know their clients are going to appreciate seeing more of them and learning about the AFH proposition.
“This deal reinforces AFH’s place as a welcoming home for IFA businesses of all sizes, whether they’re looking to offer an even better service to their clients, grow their business or arrange an orderly exit from the industry. Joining forces with Richard and his team builds on recent acquisitions to further strengthen our presence in Yorkshire and the North East.”
Source: Company Press Release