Progeny snaps up London-based IFA

Leeds-based wealth manager Progeny has begun its rapid expansion by supporting the management buyout of Quadrant, a firm of independent financial advisers located in London.

Progeny snaps up London-based IFA


The Quadrant team will be absorbed into the Progeny Group team, based in Leeds and London. Quadrant’s current managing director Andrew Pereira will become a director at Progeny.

The partnership represents Progeny’s latest push into the London and southern England markets and will expand upon its existing wealth management and legal services for private clients, corporates and family offices.

Currently, the business is comprised of a corporate law, private law, asset management and wealth management division.   

Neil Moles, managing director at Progeny, said: “We will now have significant wealth advisory resources in London as well as the north of England, enabling us to better serve individuals, families and corporates based in the UK with assets and bases outside the UK.

Earlier this year, he said the group’s asset management unit was prepped to take on the industry “big boys” that he said were overcharging clients while failing to deliver results.

Progeny runs with a flat fee structure, with all fees and charges bundled into a single annual management charge.

Pereira said the synergies between Progeny and Quadrant were a “perfect fit” with a “complementary geographic presence,” adding that his firm had long “admired Progeny as the first multi-service professional platform aligned with the goals of its clients.” 

He added: “As part of Progeny, we will continue to care for our clients’ wealth but now with a broader range of services, including legal and tax advice, delivered by very talented individuals. 

“This will add real value to all clients and help them achieve their goals and protect their wealth for generations to come.”      



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