The Private Office (TPO), a Leeds-based wealth management firm, has agreed to purchase financial planner PQR Financial Planning in a cash and equity deal to expand its operation in London.
Founded in 20014, PQR offers advice on personal finance, including tax, pensions, investments and protection, and helps corporate clients with employee and director benefit schemes, auto-enrolment pensions and protection benefits. It has nearly 50 employees.
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Before merging into PQR's existing offices in Victoria from January, the two London offices will trade as TPO and PQR, a subsidiary of the TPO Group.
The combined business, which will also include TPO sister firm SavingsChampion.co.uk, expects to a have a turnover of £8.5m.
SavingsChampion is a savings accounts specialist, which assists individuals, businesses, trusts and charities in finding the most competitive savings accounts.
Commenting on the acquisition, TPO CEO Stuart Phillips said: “I have known key figures at PQR for sometime and the two businesses are a very good fit. We have long admired each other’s firms and have shared culture and values. PQR offers our clients, particularly in London and the South, more top-class advisers, and internally, a succession strategy, more career opportunities and the dynamics of being part of greater shared intellectual capital within a larger firm.”
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