Wealth manager acquires Scottish adviser in latest deal

Wealth management, financial planning and legal advice group Progeny has acquired Scottish advice firm Innovate Financial Services in its first expansion north of the border.

The consolidator, which has offices in London, Leeds, and Salisbury, has agreed to purchase Edinburgh-based Innovate to help the group offer a “UK-wide presence with a consistently high level of service”.

Progeny did not disclose the value of the deal, which will see Innovate’s management team and staff join the group.

Progeny managing diretor Neil Moles says: “We are not pausing in the development of the Progeny Group.  Edinburgh is a burgeoning commercial and financial centre and serves clients all over Scotland and northern England.

“Innovate’s clients will now have access to the Progeny formula of wealth planning and management as well as legal advice in one place, offered with a transparent fee tariff.”

Profile: Progeny’s Neil Moles on seeing opportunity in regulation

After a string of acquisitions in recent years that took it past the £1bn in assets under management mark, Progeny is in the process of setting up an academy to add to the trainees it has taken on.



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