AFH Financial has acquired the client book of insolvent Welsh advice firm Juno Moneta Capital, International Adviser understands.
The financial terms of the deal were undisclosed.
Clients of Juno Moneta Capital business will be transferred to AFH.
It comes despite AFH suspendeding its long-running acquisition strategy. in September last year.
Birmingham-based Butcher Woods was appointed administrator of the Juno Moneta’s parent company on 21 July, according to Companies House.
Juno Moneta Capital went into administration on 7 August 2020, according the Financial Conduct Authority (FCA).
The FCA said: “It has stopped taking on new business but has to continue to meet our standards in dealing with its customers.”
IA has contacted Butcher Woods for a comment, however it did not reply in time for publication.