The Private Office (TPO), a Leeds-based wealth manager, has acquired John Lamb Wealth Management for an undisclosed amount.
Headquartered in London, John Lamb offers financial planning services. The company is staffed by 11 people, headed by managing partner Paula Steele.
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All of them will now join the Carter Lane office of TPO, with 17 financial advisers and two trainee advisers now operating out of the location.
Steele noted: “We believe that as part of TPO, we can offer our clients the best possible range of services and expertise in the market today.”
The transaction increases TPO’s total assets under management to nearly £1.3bn.
TPO expects to raise annual turnover from the existing figure of over £12m to more than £50m over the coming five to seven years.
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By GlobalDataStuart Phillips, CEO of TPO said: “The deal strengthens the firm’s London presence and creates a platform for further natural growth.
“Our current focus is to grow TPO organically through the quality of our wealth management advice and lead generation, but we are open to discussions with independent firms if there is a good fit, professionally and culturally.”
The latest deal is the third London acquisition made by TPO, the other two deals being struck with SRLV Financial and PQR Financial Planning.
TPO bought SRLV Financial, the wealth management unit of SRLV Accountants, earlier this year and PQR in 2016.
