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Private office eyes double office launch

Private office eyes double office launch

 The Private Office (TPO) is eyeing a double office launch following its recent acquisition of a London-based wealth adviser, PQR.

Chief executive Stuart Phillips told Wealth Manager he would like to see the business expand into the South West and Scotland.

He added that the move was a natural progression and would most likely be organic in nature.

This follows the recent acquisition of PQR, which is headed by former Wealth Manager cover star Quentin Holland. The purchase was made to boost the firm’s presence in London.

The combined group, trading as PQR part of the TPO Group, has around £1 billion of client assets and turnover of £8.5 million. TPO has had an office in London since 2013 but had long been looking at ways to build this up.

Phillips said of the reasons behind a South West and Scotland expansion: ‘The obvious location for us is the West Country. A couple of our board directors are based there, our sister company Savings Champion is based there and one of our current advisers based out of London has a lot of clients in the region. Eventually we will open an office in Bath or the surrounding area.

‘In Scotland there is a large chunk of space we don’t cover. Eventually I think we will look to it. We have clients there and one of our directors originates from Aberdeenshire. Post-Brexit and everything that could be happening as a result of it, Scotland is an area where we could do with having someone there.’

Edinburgh has been the focus of expansion for a number of wealth firms, including the likes of Psigma Investment Management and Weatherbys Private Bank, which recently opened shop there.

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