Leeds-based Progeny acquires wealth manager Fiscal Engineers as part of expansion strategy

Fiscal Engineers provides services for business owners, entrepreneurs and other individuals with substantial investment needs.

The company, which is based in Nottingham and also has offices in Birmingham and London, has won a number of awards for financial services and innovation since its launch in 2000.

Fiscal Engineers Executive Chairman and founder Shane Mullins said: “This move will enable us to keep building on everything we’ve achieved over the course of the past 23 years.

“We believe combining our own strengths with Progeny’s will help both businesses fulfil our shared ambitions of delivering a world-class wealth management service and continually improving what we offer to clients.

“We’re very excited about this chance to grow the Fiscal Engineers family, broaden our proposition and deliver even more benefits to our clients, team and professional friends.”

Leeds-based Progeny’s chief executive Neil Moles said: “Over nearly a quarter of a century, Fiscal Engineers has built an advice firm that services a select and client base.

He added: “ It’s great to be able to welcome Fiscal Engineers and their clients into Progeny as we realise the full potential of two great businesses coming together.”

A team from global law firm Squire Patton Boggs acted as legal adviser to Progeny during the deal.

Fiscal Engineers’ side of the transaction was led by the company’s own management team.