TPO, which has offices in Bath, Leeds and London, has already bought two Financial Planning firms in London in recent years, including SRLV Financial LLP in March this year and PQR in 2016.

It says it is potentially looking for further acquisitions.

The price paid for John Lamb has not been disclosed.

John Lamb Wealth Management is led by Paula Steele and has a team of 11 people, including six Chartered Financial Planners.

TPO says the takeover has increased TPO’s footprint in London with the John Lamb Wealth Management team moving into TPO’s London office in Carter Lane. This office now has 17 advisers and two trainee advisers.

The newly-combined business, which includes TPO sister company Savings Champion, has an annual turnover of over £12m and plans to increase this to more than £50m in the next seven years. TPO has £1.3 billion in 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”.

He added: “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.”