AFM Wealth – Bespoke finance to support an IFA acquisition programme

The Challenge

Founded in February 2020, AFM Wealth is the holding company for independently owned financial advisory firm, Absolute Financial Management, who have over 4,500 clients and assets under management (AUM) exceeding £500M. The company was looking for an experienced lender, operating in the IFA market, who could provide bespoke finance to support its growth ambitions. 

Opportunity & Outcomes

We were able to provide a £1.4M loan to AFM Wealth to support its acquisition programme of IFA firms across the UK, which has already seen them acquire six small IFA firms since February 2021.  Philip Hughes, Director of AFM Wealth, said: “The capital from OakNorth Bank will provide us with the financial firepower to accelerate our acquisition programme and be well-positioned to support customers through the challenging months and years ahead. Like us, the OakNorth team put the customer experience at the heart of everything they do, and this was clear from the first interaction we had with them.”