Wealth manager The Private Office has acquired Leeds-based Financial Planning firm HEB Wealth, for an undisclosed amount.
The deal is the firm’s first acquisition in seven years.
The takeover will add approximately £100m in assets under management, taking The Private Office’s total AUM to more than £3.1bn, with an annual turnover of £32.5m.
HEB is led by managing director Steve McDermott and director Elaine Merritt, both of whom will join The Private Office.
It said the deal “represents an ideal cultural and strategic fit for TPO. Both firms share a commitment to Financial Planning and client care, ensuring that this acquisition will help TPO to grow faster without compromising principles.”
Geographically, HEB’s Leeds location is close to TPO’s head office, further supporting operational integration, the firm said.
It said it remains committed to its core strategy of organic expansion but that future acquisitions will be considered where there is a strong cultural alignment and clear benefits for clients
Stuart Phillips, CEO at The Private Office, said: "Our success in building a highly profitable business organically has put us in a strong position to make selective acquisitions that complement our growth strategy.
“HEB is a perfect fit, culturally aligned, geographically close and committed to the same principles of client care and financial planning excellence. We’re excited to welcome their team and clients to The Private Office."
The Private Office acts for more than 5,500 individuals, businesses and charities and manages more than £3bn of clients' funds. It has 182 staff across three offices and 53 advisers.
In January 2026, The Private Office announced a minority shareholder investment from Goldman Sachs Alternatives, to allow for future growth and development of the business.