PROGENY HAS AGREED TO ACQUIRE NATIONAL FINANCIAL PLANNING FIRM

Yorkshire-based Financial Planning firm, Progeny has announced plans to acquire The Fry Group, marking its expansion into international markets and taking its assets under management past £5.5bn.

Founded in 1898 by Thomas Fry, The Fry Group is one of the oldest wealth management firms in the world. It is a Financial Planning, tax and estate firm with 191 employees across the UK (London, Worthing, Cheltenham and Exeter), as well as four international offices in the United Arab Emirates, Singapore, Hong Kong and Belgium. Eventually The Fry Group offices will be rebranded under the Progeny name.

David Pugh, CEO of The Fry Group said: “The Fry Group and Progeny are a great fit and we’re excited about this next stage in our journey. We are both values-based businesses with a sharp focus on clients, building trust and long-lasting relationships with them and aiming to always exceed their expectations. I’m looking forward to the new possibilities, the additional services we can offer our clients and the scope for scaling up that joining Progeny will bring.”

Progeny CEO Neil Moles added: “We’re proud to announce the international expansion of the Progeny brand and what better way to do it than with a business as prestigious and long-established as The Fry Group. This is a thrilling new front for us, which will bring fresh new opportunities for our clients, our team members and for Progeny as a growing and ambitious firm.”

This is the third acquisition for Progeny so far this year.

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