National financial planning firm Progeny Group has acquired London-based Evolve Financial Planning, boosting its assets under advice to over £1 billion.
Evolve, which was the UK’s first financial planner to receive corporate chartered status, will become part of Progeny Wealth, the group’s wealth management arm.
As part of Progeny’s ‘acquire to hire’ development strategy, Evolve’s founder and managing director Antony Williams and all of the firm’s directors and advisers will join the group.
The new group will also allow Evolve’s existing clients to benefit from asset management and private and corporate legal services.
Progeny Group managing director Neil Moles (pictured) said: ‘This acquisition marks a pivotal moment for Progeny Wealth, bringing our assets to over £1 billion. Evolve has always been passionate about the professionalisation of the financial planning industry, which fully aligns with our strategic vision.
Williams said the deal meant ‘our clients across the UK will now be able to benefit from access to a broader offering of in-house advice’.
Evolve was founded in 2004, with offices in Croydon and London providing financial and investment planning advice across the country, with a concentration of clients in the Home Counties.
Progeny Group was established in 2014 with £250 million assets under advice. Over the past four years, the company has bought a number of advice firms.