News

17
Oct

The Private Office makes first acquisition

The Private Office (TPO), has boosted it funds under management by 25% and significantly increased it’s footprint in the capital through its first acquisition, of London-based firm PQR Financial Planning.
The Private Office is a Leeds-based wealth management business established in 2008, which following this acquisition will be responsible for close to £1 billion of assets. The business has a team of 56 in Yorkshire, and set up its London-base in 2013, which will now merge with PQR’s office, in Victoria and trade as ‘PQR, part of TPO Group’.
PQR Financial Planning was established in 2003 and is led by MD Quentin Holland.  The firm manages approximately £250M of client assets, with a team of 11 advisers. Post-acquisition Holland will become a partner in TPO.
Commenting on the deal, TPO CEO Stuart Phillips said “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.”
In terms of continued growth, Phillips has not ruled out further acquisitions, commenting “Our plan is simply to be in the market and grow but we are open to discussions with independent firms if there is a good fit, professionally and culturally”