Leeds-based consolidator Progeny Group has acquired Evolve Financial Planning and its offices in Croydon and London.
Progeny surpasses £1bn in assets under management with the deal, which is part of its “acquire to hire” expansion strategy looking to expand in London and the South East.
Progeny was formed in 2014 after wealth management firm Lawrence Scoffield Group merged with Progeny Private Law and Mark Burns Legal Services and has quadrupled its assets in the past four years.
All Evolve directors and advisers will join Progeny, bringing total employment at the group to 58 over three counties in five offices.
Progeny managing director Neil Moles says: “We look forward to further developing our geographic footprint and catering to the needs of companies, charities and individuals across the country. This acquisition marks a pivotal moment for Progeny.”
The group also acquired Mayfair-based wealth manager Chestergate Financial Planning in London last October.