PROGENY PURCHASES SCOTTISH FINANCIAL PLANNING FIRM
Capital and Trust - July 20, 2022 - 0 minute read
Progeny has announced plans to acquire Edinburgh-based Chartered financial planners, Balmoral Asset Management.
This represents the next step in Progeny’s concerted expansion into Scotland and will take their total assets under management to more than £6.5bn.
The deal marks Progeny’s fourth acquisition this year, following the firm’s purchase of international financial planning firm The Fry Group last month.
Balmoral Asset Management, which was founded in 1999, and is renowned for its expertise in providing growth for clients while meeting their complex financial needs, is Progeny’s 16th acquisition to date.
Neil Moles, chief executive of Progeny, said: “We have been steadily expanding our presence in Scotland in the last few years and our acquisition of Balmoral Asset Management will allow us to take a significant step forward in this aim. Balmoral Asset Management are a highly respected firm who have become a byword for impeccable standards and exceptional client service. There are so many areas of overlap and common ground between us, in our services, our business ethos and in wanting to make a meaningful commitment to the next generation of our industry.”
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