Originally written by our sister publication, International Adviser
Progeny Group, which offers asset management, financial planning and tax services, has acquired Nottingham-based wealth manager Fiscal Engineers for an undisclosed sum.
Fiscal Engineers provides investment services for business owners, entrepreneurs and senior executives.
The acquisition will take Progeny’s assets under management to £8bn ($10.1bn, €9.2bn).
Chief executive at Progeny Neil Moles said: “Fiscal Engineers’ well-researched and methodological approach to providing advice is progressive and effective in equal measures and will add a great deal of value to our own proposition.”
Founder and executive chair at Fiscal Engineers Shane Mullins, added: “We believe combining our own unique strengths with Progeny’s will help both businesses fulfil our shared ambitions of delivering a world-class wealth management service and continually improving what we offer to clients.”
Progeny has made a number of acquisitions over the last 18 months, having bought Hampshire-based financial advisers Coll Perkins in May last year, Edinburgh-based financial planning firm Balmoral Asset Management in July 2022 and financial planning firm Lewis Brownlee Financial Services last November. In April this year, Progeny completed its acquisition of international wealth management company The Fry Group.
