Yorkshire financial planning firm makes third London acquisition

Leeds-based wealth management business, The Private Office (TPO), has acquired John Lamb Wealth Management, a London-based firm of Chartered Financial Planners.

John Lamb Wealth Management, led by Paula Steele, is an established firm of financial experts and planners with a team of 11 people, including six Chartered Financial Planners and has provided independent wealth management advice since 2016.

The acquisition has increased TPO’s presence in London. With the John Lamb Wealth Management team moving into TPO’s London office in Carter Lane, the office now has 17 advisers, and two trainee advisers.

The newly-combined business, which also includes TPO sister company, cash-saving expert, Savings Champion, has an annual turnover of over £12m and plans to increase this to more than £50m in the next five to seven years.

This is TPO’s third acquisition of a London-based financial firm, following that of PQR Financial Planning in 2016 and SRLV Financial LLP earlier in the year. It boosts the coverage and value of the business, which now has £1.3bn funds under management.

TPO chief executive, Stuart Phillips, 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.”

John Lamb’s Managing Partner, Paula Steele, added: “We believe that as part of TPO, we can offer our clients the best possible range of services and expertise in the market today.”

For TPO, the legal aspects of the deal were handled by Susan Clark, head of corporate at LCF Law, and her team.