HFM Columbus, the wealth management and advisory firm, is "on the hunt" for new advisors after launching another office in London and rolling out a discretionary fund management service.

Marcus Carlton, director, said the new base in Holborn will be the focus of its expanding footprint in London, adding that it hopes to recruit at least four advisors this year and a similar number in 2013. Specifically, the firm is aiming to attract advisors with a transferable book of clients and generating at least £200,000 (about $323,300) a year.

Meanwhile, the expansion into discretionary fund management was designed to refine its investment operation ahead of the looming Retail Distribution Review. The DFM service is headed up by investment manager Rob Pemberton and currently has £60 million in assets under management, alongside some £350 million held within its advisory business.

As well as investment and financial planning services, HFM Columbus also runs a mortgage advisory operation for high net worth domestic and overseas clients typically looking for mortgages of £1 million and over. As well as offices in central London, the firm also has a branch in Surrey.