Pareto Financial Planning has moved to bigger headquarters in Manchester city centre to accommodate its growing team.

The independent advisory firm has relocated from St John Street off Deansgate to Tower 12 in the Spinningfields business district.

Pareto has taken the seventh floor of Tower 12 on a five-year lease.

Its new base has 5,100 sq ft of office space, with three meeting rooms and a large breakout area for staff.

The firm had been on St John Street since 2012 and occupied 4,200 sq ft over four floors, but says it had had “outgrown” the building.

Staff numbers have increased from 34 in 2017 to 53, with new advisers, administrators and Paraplanners, as well as recruits to the employee benefits team and portfolio department.

Pareto advises individual and corporate clients across the north west on all aspects of Financial Planning, including pensions, investments, protection and employee benefits.

Managing director, John Stevenson, said: “Our previous base was at capacity and the nature of the building meant staff were working across different floors.

“At Tower 12, we are all on one floor.

“Working closer together will improve communication and efficiency, which will greatly benefit our clients.

“We were keen to remain in a central location and our new HQ in Spinningfields fits the bill perfectly.”

Pareto, which was founded in 2008 with one employee, grew revenues in the year to March 31 to £4.9m.

Funds under influence rose by more than £100m to over £700m.