Progeny on the acquisition trail

Progeny, the national advice firm, is seeking potential vendors to acquire, following a recruitment spree of 29 members of staff. In the first six months of this year, Progeny oversaw an expansion in assets under management of over £180m, and plans to balance its successful organic growth with external growth in the second half of 2020. 

Chief executive of Progeny, Neil Moles, commented: “Following Covid-19 geography isn’t as important as it used to be – but actually for us it never was, it was always about the people.

“If you get the right people they ultimately will have the right business. We are talking to lots of firms at the moment and we will get some of them across the line and moved into Progeny in the next six months.”

“Rather than furloughing staff or going to ground we accelerated our plans to grow the business and increased our capacity so we were available to support our clients whenever and on whatever platforms they needed us.”

At the end of 2019, Progeny launched a tax arm in order to bring tax services, financial planning and legal advice under one provision. The 29 new starters hired by Progeny reflect the firm’s extended coverage; new recruits span departments such as marketing, law, tax and wealth management.