Progeny speeds up expansion into the South with Evolve deal

Neil Moles, managing director of Progeny Group
Neil Moles, managing director of Progeny Group
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Wealth manager Progeny Group is speeding ahead with its expansion into the South ​with the acquisition of ​Evolve​ ​Financial Planning​ for an undisclosed sum​.

The acquisition will see Evolve become part of ​Leeds-based ​Progeny Wealth.​

Progeny said ​Evolve​, which has ​offices in Croydon and London,​ provides high quality financial and investment planning advice across the country with a concentration of clients in the Home Counties.

​Evolve's founder and ​m​anaging ​d​irector Antony​ ​Williams will join the ​g​roup along with all of Evolve’s directors and advisers, expanding​ ​Progeny’s wealth management capabilities in the South of England. ​Progeny said ​Evolve’s clients will be able to benefit from the wider ​g​roup’s ever-expanding asset management and private and​ ​corporate legal advisory services at transparent prices.

This latest acquisition ​will expand Progeny Wealth’s assets under advice to over £1bn for the first​ ​time. ​Over the last four years the ​c​ompany has​ ​quadrupled its assets​ and significantly increased its​ headcount and geographic footprint with ​five​ offices across ​three ​counties and 58 employees.

Neil Moles, ​m​anaging ​d​irector 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.”

​Mr Williams 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.