The Private Office (TPO), a Leeds-based wealth manager, has snapped up SRLV Financial, the wealth management arm of SRLV Accountants.
The acquisition is said to be a cash deal. However, TPO did not reveal how much consideration it paid for the purchase.
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The acquired entity, headquartered in London, advises on the wealth management needs of the personal and corporate clients of SRLV Accountants.
These clients are mainly involved in the music, media, entertainment, hospitality and corporate sectors.
SRLV Financial has a staff headcount of six, which includes two financial advisers.
The newly-combined firm is said to have an annual turnover of over £12m. The goal is to increase this figure to more than £50m in the next five to 10 years.
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By GlobalDataTPO CEO Stuart Phillips said: “There is considerable expertise at TPO and SRLV Financial and we are excited by the increased capacity to jointly deliver an exemplary service and the opportunity to grow the relationship with SRLV Accountants, to advise more of its clients.
“Our immediate plan is to grow TPO organically through the quality of our wealth management advice, but we are open to discussions with independent firms if there is a good fit, professionally and culturally.”
TPO was established in 2008 in Leeds and entered London in 2013. The business currently employs 81 people in Yorkshire and 30 in London.
The latest deal marks TPO’s second purchase of a London firm, the first being the acquisition of financial planner PQR Financial Planning in 2016.
