The Progeny Group has been published in Citywire Wealth Manager’s ‘Battle of the boutiques: 25 boutiques launched in 2016’ feature.
This article was published in Citywire Wealth Manager, 5 December 2016. Read the full article here.
“As regulatory pressures grow there have been a number of mega-mergers in the UK wealth management industry. The theory is when combined firms are in better shape to deal with this rising burden.
However, contradictory to this apparent trend, a number of new firms came to the market, suggesting regulation is not killing off the boutique. Interestingly, several of the firms were established by teams leaving larger firms.
As competition heats up with private offices, boutique wealth managers and online investment managers all trying to carve out a slice of this lucrative pie, we highlight 25 new firms that opened their doors this year.
Legal and financial boutique Progeny launched a discretionary investment management arm with six former Redmayne Bentley staff.
Progeny Asset Management was launched by directors Ian Hooper, Michelle Parkin (pictured) and Jon Moody, who are joined by investment managers Craig Melling and David Battersby.”