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Wealth manager Progeny snaps up financial planner

Wealth manager Progeny snaps up financial planner

Progeny Group has bought Chestergate Financial Planning, a financial advice firm based in Salisbury and London specialising in wealthy private clients with complex financial needs.

The Chestergate team will join Progeny, expanding its wealth management offering and bringing its asset management and legal services to Chestergate’s clients.

Chestergate’s management will take a minority stake in the Progeny Group.

Neil Moles, managing director of Progeny Group, said: “Adding Chestergate means that a large and affluent southern market in and around Salisbury will now have access to Progeny’s offering, and they will generate synergies with our existing London operations.

“We know that wealthy clients need legal advice on their financial affairs at least every two years, and having this advice delivered alongside planning advice from the same firm simplifies and improves the whole process.

“So we look forward to working with Chestergate to offer clients joined-up financial advice, including legal services and wealth structuring.”

Progeny Group is based in Leeds and London and offers wealth management and legal advice for private clients, corporates and family offices.

It was formed last year after wealth management firm Lawrence Scoffield Group merged with Progeny Private Law and Mark Burns Legal Services.

Robert Gerwat, managing director of Chestergate Financial Planning, said: “The quality of our team has allowed us to specialise in advising clients with complex financial arrangements, and help them achieve their financial and lifestyle goals.

“Joining Progeny will extend and deepen our offering, adding specialisms in asset management as well as private and corporate law.”

Earlier this year Progeny Group supported the management buyout of London-based Quadrant Group as it expands its presence in London and the southeast.