The deal was worth around $2.62 million.

UK wealth manager AFH Financial has acquired Essex-based Britton Financial for £2 million ($2.62 million), part of continued merger and acquisition activity across all levels of the wealth sector.

AFH’s purchase of Britton Financial continues the group’s twin-track expansion strategy, which includes both merging with other companies and continuing to grow its client base through its team of 165 financial advisors, who cover the whole of the UK, the firm said in a statement.

With £57 million of funds under management, Britton Financial’s principal area of operations is East Anglia, but it also has clients in London and the Home Counties.

“At AFH we only take on businesses that share our vision of putting clients first, and as soon as I met Ken Kerr [Britton chief executive] I knew here was someone I wanted to do business with,” said Alan Hudson, AFH CEO. “I’m looking forward to continuing his great work of looking after his clients in East Anglia and the South East. We’ll also be looking to taking on more clients in East Anglia, the South East and right across the UK.”

Worcestershire-based AFH now serves almost 9,500 clients, with £2.7 billion of assets under management.

M&A activity continues in the UK wealth industry, including in the area of financial advisory firms. For example, earlier in November, Wealth management firm Succession Group, which is headquartered in Plymouth, has completed two acquisitions, using its new fast-track acquisition process to buy Edinburgh and Glasgow-based Accountants Financial Services (Scotland) and Manchester and Stratford-on-Avon-based H&L Financial Limited, the holding company for Inspire Wealth Management.