Ascot Lloyd announced today it is launching Ascot Lloyd Private Office, to be based in in Harrogate, with a staff of 40, along with 12 in the West End of London.

It will provide “bespoke, high-quality wealth management solutions to high net worth individuals and families, typically those with net investable assets of at least £500,000”.

The newly-launched business will utilise the expertise and experience of wealth planning firm PFP Group, which Ascot Lloyd acquired in August 2015.

Richard Dunbabin, chief executive of Ascot Lloyd, said: “We are seeing a growing need for high quality wealth solutions in Harrogate and across Yorkshire. We will enhance our offering in response to this demand, utilising the skill of our financial advisers to help existing and new clients achieve their financial goals.

“We have segmented our offering and launched a Private Office to ensure we tailor solutions to the variety of financial advice requirements our clients will have at different stages of their lives. While competitors are scaling back the bespoke financial services they offer, we remain committed to personalised, client-centric wealth management.”

The Harrogate office also houses about 30 staff working for Ascot Lloyd Benefit Solutions, its corporate advisory business, and provides central services functions to the wider group.