Wealth management and legal advice firm Progeny has expanded into Scotland with the acquisition of Innovate Financial Services.
The deal will see the Innovate management team and staff join the Progeny group, in line with the wealth manager's ‘acquire to hire’ strategy.
The deal comes after the Edinburgh-based financial services business celebrated its 10th anniversary this year.
Neil Moles, managing director of Progeny Group, said: "We are not pausing in the development of the Progeny Group.
"Edinburgh is a burgeoning commercial and financial centre and serves clients all over Scotland and northern England.
"Innovate’s clients will now have access to the Progeny formula of wealth planning and management as well as legal advice in one place, offered with a transparent fee tariff."
Chris Donald, managing director of Innovate Financial Services, said: “The Progeny Group will provide our clients with a superior service and investment proposition as well as enhanced career opportunities for our employees."
In July 2018, Progeny bought Evolve Financial Planning in a deal that took its assets under administration above £1bn.
Terms of the deal with Innovate Financial Services have not been disclosed.
