Outlook: Acquisition and organic opportunities
AFH has shown that being an IFA consolidator can work. 2014 saw heavy investment in control functions (which should now increase at a much slower pace) and the FCA review of regulatory authorisations taking much longer than expected (a market-wide phenomenon). Despite these drags, profits still grew, and looking forward much more of the revenue growth is expected to drop down to profit. At end October the group had £5.7m in cash to fund further acquisitions. There has been evidence of organic growth. In 2014 c 15% of the recurring revenue increase was due to acquisitions made during the year.AFH Financial Group is an independent financial adviser and investment manager. Co.'s segments include Financial Advice and Investment Management and Protection.
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