Leeds wealth advisory business Lawrence Scoffield is to merge with local law firms Progeny Law and Mark Burns Legal Services to create integrated firm Progeny, influencing around £1 billion in client assets.
The merger combines Progeny Law’s private client practice with Mark Burns Legal’s corporate practice, alongside Lawrence Scoffield’s specialism in estate planning and investment advisory.
A spokesman for the group said that it expected to begin actively recruiting soon, in particular building on the London office which Lawrence Scoffield bought to the combined business.
Neil Moles will head the group, having formerly served as managing director of Lawrence Scoffield. In a statement, Moles said: ‘Progeny provides a unique combination of wealth management and legal advice for private clients, corporates and family offices.
‘Progeny was born out of an ambition to create the first multi-service professional platform designed to match client goals with those of the professionals advising them.’
Moles led a buyout of the advisory business from its founders in 2008. The Yorkshire Post at the time reported the deal valued the business at between £4-6 million on turnover of around £2 million.
The group has restructured in recent years, spinning out its generalist insurance business in 2013.
Managing director of Progeny Corporate Law Mark Burns added: ‘Progeny is a unique opportunity to provide private client legal and wealth management advice to our corporate clients.
‘This addresses a need our corporate clients have to integrate their advice across multiple disciplines.’