The acquisition, which was for an undisclosed sum, will see Evolve become part of Progeny’s wealth management arm.
Financial and investment advice firm Evolve was founded in 2004 and has offices in both Croydon and London.
It was the UK’s first financial planning firm to receive corporate chartered status in 2007.
Acquire and hire
Evolve founder and managing director Antony Williams, along with the company’s directors and advisers, will join Progeny to expand the group’s wealth management arm.
Williams said Evolve had been watching Progeny’s rise across the UK for some time.
“Our clients across the UK will now be able to benefit from access to a broader offering of in-house advice,” he said.
Neil Moles, managing director of Progeny Group, said: “This acquisition marks a pivotal moment for Progeny Wealth, bringing our assets to over £1bn.
“Progeny continues to lead the industry in transforming towards a transparent full-service offering providing in-house wealth and legal advisory services, including the recently launched subscription service Club Legal.”
Founded in the UK in 2014 with £250m assets under advice, Progeny has grown to five offices across three countries and 58 employees.
