Progeny acquires financial planning firm

A financial planning, legal and asset management solutions firm has acquired Evolve Financial Planning.

Progeny Group, which has a Leeds base, has bought Evolve, which was the UK’s first Financial Planner to receive corporate Chartered status in 2007. The acquisition will see Evolve become part of Progeny Wealth, the Group’s wealth management arm.

Founded in 2004 with offices in Croydon and London, Evolve provides financial and investment planning advice across the country with a concentration of clients in the Home Counties.

Founder and managing director Antony Williams will join the Group, along with all of Evolve’s directors and advisers. Evolve’s clients will also be able to benefit from the wider Group’s ever-expanding asset management and private and corporate legal advisory services at transparent prices.

This latest acquisition grows Progeny Wealth’s assets under advice to over £1bn for the first time. Founded in 2014 with £250m AUA, over the last four years the Company has not only quadrupled its assets; headcount and geographic footprint have also significantly increased with 5 offices across 3 counties and 58 employees.

Neil Moles, Managing Director of Progeny Group, said: “This acquisition marks a pivotal moment for Progeny Wealth, bringing our assets to over £1bn. Evolve has always been passionate about the professionalisation of the financial planning industry which fully aligns with our strategic vision.

“Progeny continues to lead the industry in transforming towards a transparent full-service offering providing in- house wealth and legal advisory services, including the recently launched subscription service Club Legal. We look forward to Antony and his team joining the Progeny family, further developing our geographic footprint and catering to the needs of companies, charities and individuals across the country.”

Antony Williams, Managing Director of Evolve Financial Planning, added: “We have been watching Progeny’s rise for some time and are excited to be involved in realising our shared vision of creating a countrywide network of professional, highly qualified, client orientated advisers. Our clients across the UK will now be able to benefit from access to a broader offering of in-house advice.”

A team from Progeny Corporate Law, led by Alistair Scott Somers acted as legal adviser to Progeny on the transaction. Progeny Corporate Law is one of Progeny’s four business areas, which include Progeny Wealth, Progeny Asset Management and Progeny Private Law. Progeny Private Law was recently recognised for services by the Chambers HNW rankings, with Francis Davies being singled out for her “excellent technical knowledge combined with insight and empathy.”

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