Progeny acquires Nottingham-based wealth manager

Taking the firm’s assets under management to £8bn

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Professional-services firm Progeny has acquired Nottingham-based wealth manager Fiscal Engineers for an undisclosed sum.

Fiscal Engineers provides investment services for business owners, entrepreneurs and senior executives.

The acquisition will take Progeny’s AuM to £8bn ($10.1bn, €9.2bn) and allow both businesses to combine their expertise.

Chief executive at Progeny Neil Moles, said: “Fiscal Engineers’ well-researched and methodological approach to providing advice is progressive and effective in equal measures and will add a great deal of value to our own proposition.”

Founder and executive chairman at Fiscal Engineers Shane Mullins, added: “We believe combining our own unique strengths with Progeny’s will help both businesses fulfil our shared ambitions of delivering a world-class wealth management service and continually improving what we offer to clients.”

This acquisition comes after Progeny purchased international wealth management company The Fry Group last April. 

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