Progeny has announced the acquisition of Innovate Financial Services, a financial planning and wealth management firm in Edinburgh. This marks Progeny’s first expansion into Scotland.
Innovate’s clients will now be able to benefit from Progeny’s asset management, financial planning and private and corporate legal services, all offered with transparent costs.
In line with Progeny’s ‘acquire to hire’ strategy, Innovate’s management and staff will join the Progeny team. A team from Progeny Corporate Law led by Alistair Scott-Somers acted as legal adviser on the transaction.
Managing Director, Neil Moles, commented: “We feel that Scotland is a very important market for us.” He added that further Scottish growth will come via a combination of organic growth and acquisitions, with law firms among potential targets.
“We are not pausing in the development of Progeny. Edinburgh is a burgeoning commercial and financial centre and serves clients all over Scotland and northern England. Innovate’s clients will now have access to the Progeny formula of wealth planning and management as well as legal advice in one place, offered with a transparent fee tariff.”
Chris Donald, Managing Director of Innovate Financial Services, added:
“We are delighted to become to part of Progeny and their first expansion into Scotland. Progeny will provide our clients with a superior service and investment proposition as well as enhanced career opportunities for our employees.”
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