Leeds-based financial planning firm The Private Office (TPO) has acquired City wealth manager PQR Financial Planning to create a firm with £1bn in assets under management.
The combined assets of the two firms will be £1bn, with PQR bringing £250m to the table, while TPO, founded in 2008, has £750m of assets under management. The acquisition of the independent firm is a cash and equity deal for an undisclosed sum and the combined business will have a turnover of £8.5m. TPO plans to increase this to £50m with 50 financial advisers within the next 10 years. The firm said the acquisition was not part of a deliberate strategy but that it is looking to grow nationally and was open to opportunities from other independent firms. 'Good marriage of offerings'...
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