AFH Financial Group has acquired Oxfordshire-based Roxborough Consultancy and West Bromwich-based First Class Financial Management for almost £1 million (around $1.5 million).

UK-based AFH Financial Group has acquired Oxfordshire-based Roxborough Consultancy and West Bromwich-based First Class Financial Management for almost £1 million (around $1.5 million).

AFH will pay a total of £911,760 for Roxborough – dependant upon the consultancy's performance over the next two years – and £84,000 for advisory firm First Class Financial Management. In the year ending March 2014, Roxborough generated a pre-tax profit of £185,793.

The two acquisitions take the IFA consolidator to six acquisitions in the seven months since it listed on the AIM last June.

“We continue to seek, select and complete opportune acquisitions in a post-RDR world,” said AFH's chief executive, Alan Hudson.

“We offer IFA businesses, of all sizes irrespective of geography, the opportunity to either become part of a larger group or to allow the principals of those businesses the ability to realise value as they retire. We intend to focus our acquisition strategy on retiring IFAs over the coming months as part of our overall growth strategy,” he said.