Wealth consolidator AFH Financial has dipped into the well of collapsed stockbroker Beaufort Securities to beef up its presence in Wales.
Wealth Manager understands that Laurie Beevers, the former WH Ireland chief executive who left in a cloud of controversy, and his colleague Andrew Jones have now joined AFH.
The pair will move to the company’s wealth management arm and it is believed they will remain in Colwyn Bay.
Beevers served as CEO of WH Ireland from 2001 to 2008, when he became executive chairman alongside group managing director David Youngman. The duo were later suspended after a last-minute collapse of merger talks between Blue Oar and WH Ireland.
After the suspension Beevers and colleague Paul Weston acquired WH Ireland’s Colwyn Bay branch, spinning it out as a separate business.
The office, which also employed Jones, Michael Lee and James Rowbotham, joined Beaufort Securities in 2015.
However, it emerged in March this year that Beaufort Securities had collapsed into administration. The company has also been charged with fraud by US prosecutors.
AFH Wealth Management stated it was unable to comment on the hires.