Progeny today announces its acquisition of Evolve Financial Planning, the UK’s first financial planning firm to receive corporate Chartered status in 2007.
Founded in 2004 with offices in Croydon and London, Evolve provides high quality financial and investment planning advice across the country with a concentration of clients in the Home Counties.
Evolve Founder and Managing Director Antony Williams will join Progeny along with all of Evolve’s directors and advisers, expanding Progeny’s wealth management capabilities in the South of England. Evolve’s clients will also be able to benefit from Progeny’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. Over the last four years, Progeny Wealth 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, 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 Law, led by Alistair Scott-Somers, acted as legal adviser to Progeny on the transaction.
This news has been covered in:
- The Yorkshire Post: Progeny speeds up expansion into the South with Evolve deal
- Citywire New Model Adviser: National advice firm hits £1bn with London IFA buy
- Citywire Wealth Manager: Regional wealth champion breaks through £1bn on buy
- FTAdviser: London-based chartered advice firm bought by consolidator
- Money Marketing: Consolidator buys London advice firm
- International Adviser: Progeny assets hit £1bn following adviser acquisition
- The Business Desk: Progeny acquires financial planning firm
- Insider Media: Progeny assets top £1bn following latest deal
- Bdaily: Progeny Group sees assets surpass £1bn with acquisition of financial planning firm
- Wealth Adviser: Progeny acquires Evolve Financial Planning surpassing GBP1 billion in AUA
- Financial Planning Today: Financial Planner boosts assets to £1bn with Evolve FP buy
- Private Banker International: Progeny snaps up Evolve Financial Planning
- WealthBriefing [subscription required]: Deals Of The Day: The Latest In Wealth Management M&A
- thewealthnet.com [subscription required]: Wealth management and law firm firm makes acquisition
