Progeny links up with women's wealth advice firm

As part of Leeds-based Progeny, Addidi will focus on expanding its wealth advisory services for women and will offer an expanded range of expertise including legal and tax advice.

Addidi, which was founded by Anna Sofat and her husband Janardan in 2006, was established to redefine the culture of wealth and put women at its heart.

Ms Sofat’s vision for Addidi is to help women grow their wealth, build businesses, nurture their families and lead fulfilled lives.

Having built a successful financial advice practice on these principles and with ambitious to boost the representation of women in the wealth industry, Ms Sofat approached Progeny to explore partnering for the next phase of her business development.

Ms Sofat, who is chief executive of Addidi, said: “Progeny has brought together financial, legal and tax advice under one roof for the first time in the UK, so who better to partner with in extending Addidi’s vision to a wider audience and effecting real change in democratising the financial services space?

“Currently, around 90 per cent of female clients say that they feel underrepresented and unsupported by the financial industry as a whole. Together with Progeny, we aim to change that.”

Neil Moles, chief executive of Progeny, added: “At Progeny we are always looking ahead, developing strategies to adapt and evolve the way our business operates to ensure that we are creating opportunities for others and leading the industry towards a better future.

“As such, we are delighted to welcome Anna and the Addidi team to Progeny, to strengthen our financial planning offering and pursue an agenda of equality and inclusivity in financial advice.

“We look forward to working together to transform the way this industry operates for the benefit of investors, as well as the next generation of professionals.”

Ms Sofat recently launched the “Are You In?” movement, which aims to change the culture within the financial sector from within to achieve equal representation and transparency.

Progeny and Addidi said they are committed to campaigning for positive change in the financial industry.