A second acquisition of a London-based financial firm has been made by Leeds financial advice and wealth management company, The Private Office (TPO).

TPO, which has offices in London and Bath, has acquired the wealth management division of SRLV Accountants, SRLV Financial LLP, in Mayfair, in a cash buy.

SRLV Financial LLP has six staff, including two qualified financial advisers, and has provided independent wealth management advice to SRLV Accountants’ personal and corporate clients, mainly in the music, media, entertainment, hospitality and corporate sectors, since 2006.

The newly-combined business has an annual turnover of more than £12m and revealed plans to grow to a £50m plus firm in the next five to ten years.

The acquisition follows TPO buying PQR Financial Planning in 2016, which had 23 staff, including 11 advisers and four directors, and £250m funds under management, in a cash and equity deal, to create what was then a joint £8.5m business.

TPO chief executive, Stuart Phillips, said: “The SRLV Financial LLP deal strengthens our London presence and creates a platform for further growth.

“There is considerable expertise at TPO and SRLV Financial and we are excited by the increased capacity to jointly deliver an exemplary service and the opportunity to grow the relationship with SRLV Accountants, to advise more of its clients.

“Our immediate plan is to grow TPO organically through the quality of our wealth management advice, but we are open to discussions with independent firms if there is a good fit, professionally and culturally.”

SRLV managing partner, Laurence Finger, said: “We believe that SRLV Financial, as part of TPO, offers our clients the best possible range of services and expertise in the market today.

“We are very much looking forward to working with TPO in the months and years to come, and are confident that SRLV Financial will continue to provide a seamless, value-added financial planning service to complement our accountancy, business advisory and tax services.”

The SRLV Financial team has already moved into TPO’s London office in Carter Lane, and will “continue to work closely with SRLV accountants and use its Mayfair offices for client meetings.”

TPO was founded in Leeds in 2008 and launched its London base in 2013.

The firm acts for more than 2000 individuals, businesses, charities and trusts and now has 81 staff in Yorkshire and 30 in London, with 29 advisers and an additional four trainee advisers.

The firm, which has two Society of Trust and Estate Practitioners (STEP) in London and one in Leeds, has around £1.2bn in funds under management.