Multi-disciplinary professional services firm, Progeny, has reported a strong performance in the first half of 2023, with all key metrics ahead of last year.
In figures published today, revenue has increased in excess of £10m, or 43.5% year on year, and EBITDA is up by 22.4% over the same period.
Progeny CEO, Neil Moles, comments:
“H1 has seen us make good progress towards our ambition to create the first global financial planning business for UK citizens and become a highly trusted professional advisory group at international level.
“We have attracted £278m of organic new assets under management into Progeny Wealth and added £3.1bn via acquisition. Assets managed by Progeny Asset Management increased by £910.7m.”
Business highlights from the first half of the year include Progeny Wealth achieving Corporate Chartered status, following a successful application to the Chartered Insurance Institute (CII), and the group announcing B Corp Certification, making Progeny part of a global community of businesses verified as meeting high standards of social and environmental impact.
The official completion of the acquisition of The Fry Group also took place in April, which saw Progeny move into international territories for the first time, extending its footprint to the Middle East, Asia and Europe.
To strengthen the management structure to encompass global growth, Caroline Hawkesley was appointed to the new role of UK Managing Director, moving from her previous position as Chief Operations Officer.
Progeny also signposts Progeny Asset Management passing the £2bn assets under management mark and launching its own range of risk-rated, multi-asset solutions.
Notes to editors
Progeny is the first and only B Corp Certified firm in the UK to bring together Chartered financial planning, asset management, tax, HR and private and corporate legal services.
Rich Ellis, Head of PR & Communications