AFH Financial Group, the UK-based IFA aimed at high net worth and mass-affluent clients, has launched a new legal division called AFH Legal, a wholly-owned subsidiary of the company.

AFH Legal has been licensed by the Solicitors Regulatory Authority as an alternative business structure, effective 23 July. It will only provide legal services to AFH clients.

The firm has initially recruited two solicitors to run the division, one of whom has been working within the technical team at AFH for 18 months, supporting advisors in trust and estate planning work.

In other recent news, AFH also recently acquired Somerset-based financial advisors Shape Financial. The announcement marked the fourteenth acquisition by the company since its flotation in June 2011.