Progeny has acquired Fiscal Engineers, a wealth planner headquartered in Nottingham.
Fiscal Engineers has served business owners, entrepreneurs and other high value clients in and around Nottingham since 2000, with additional offices in Birmingham and London, including clients in the Middle East, Asia and Europe.
Fiscal Engineers executive chairman and founder Shane Mullins said: “This move will enable us to keep building on everything we’ve achieved over the course of the past 23 years.
“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.
“We’re very excited about this chance to grow the Fiscal Engineers family, broaden our proposition and deliver even more benefits to our clients, team and professional friends.”
The acquisition comes after Progeny posted promising results for Q1 and Q2 of 2023: revenue increased by over 40% compared to the same period last year, while EBITDA grew by more than 22%.
Commenting on the deal today, Progeny chief executive Neil Moles added: “Over nearly a quarter of a century, Fiscal Engineers has built a highly prestigious advice firm that services a select and extremely discerning client base.
“Their well-researched and methodological approach to providing advice is progressive and effective in equal measure and will add a great deal of value to our own proposition.
“It’s great to be able to welcome Fiscal Engineers and their clients into Progeny as we realise the full potential of two great businesses coming together.”
The deal brings Progeny’s assets under management to £8bn and expands its reach to Fiscal Engineer’s international clients.
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