Financial Planner and professional services firm Progeny has acquired HNW-focused Chartered financial advice firm Chartered Wealth Management, pushing Progeny’s assets under management to £9bn.
The acquisition of the firm, which has offices in Manchester and London, is for an undisclosed sum.
Chartered Wealth Management provides Financial Planning and asset management services mainly to high net worth clients.
Chartered has an experienced team of 21, with nine Chartered Financial Planners and wealth managers.
Leeds-based Progeny made several acquisitions last year including in October the takeover of £600 AUM Scottish Chartered Financial Planner firm Carbon Financial Partners for an undisclosed sum. Earlier in the year it acquired Nottingham-based Fiscal Engineers.
In April 2023 it acquired the Fry Group expanding the firm’s reach into international territories for the first time, adding offices in the Middle East, Asia and Europe.
Mark Stanbury, founding director of Chartered Wealth Management, said: “This is an exciting day for our team and our clients, as we join Progeny – a business rapidly growing in scale and profile.
“We look forward to being part of this unique business as well as the mission to transform and improve financial advice for the better, for our clients and the industry at large.”
Progeny CEO Neil Moles said: “It’s a pleasure to welcome such a prestigious and high-performing business into Progeny, one which is forward-thinking and committed to excellence in equal measure.
“This is the culmination of a five-year search for the right firm, one that will allow us to expand into a new geography but which also crucially meets the strict criteria we set for our acquisition targets around average client size and age, as well as the age and ambition of the firm’s team.”
“With Chartered Wealth Management onboard, we look forward to building our presence and extending our proposition in the North West of England. There are exciting times ahead.”
