An advice firm headquartered in Greater Manchester has extended its reach by opening a new office in London to act as a springboard for further expansion.

Bury-based Wealthcare, which employs 17 staff, is looking to hire another 2 advisers after establishing the new base in the capital.

The business has taken space at One Heddon Street in Mayfair as it responds to a “growing southern client base”.

Richard Harris, joint managing director of Wealthcare, said the firm had been looking to establish a presence in the capital for some time.

He said it has had increasing demand in London and the south for advice on pensions and employee benefits as well as corporate finance.

The firm expects to recruit administrative staff based in Bury to support its southern growth, as well as financial advisers.

“Our portfolio of clients in the south has expanded considerably and our staff are spending an increasing amount of time in London,” he said.

“It made sense to open an office there, and we wanted to be in the heart of the capital to make us more accessible.

“We expect our new London office to provide a springboard for further significant growth for Wealthcare over the next few years.”

The modern offices inside a five-storey, grade II listed building, are in a “superb location, just off Regent Street, with conference and boardroom facilities and a business lounge.

The firm’s team of financial advisers provide advice and planning to corporate and private clients on employee benefits, pensions, investments and mortgages, as well as private healthcare and cash plans through its Harris Cainer Warner division.

Wealthcare reported that it has £70m of funds under management for a nationwide client base made up of individuals, trustees, companies and their employees.

Its corporate finance arm, led by associate director Martin Simons, brokers finance with banks, specialist lenders, crowd-funders, private individuals and hedge funds for acquisitions, working capital, asset purchases, property development and investments.