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Adviser buys legal firm in conveyancing move

Adviser buys legal firm in conveyancing move

National advice firm Progeny has branched into real estate conveyancing with the acquisition of a Leeds-based legal firm. 

The purchase of Watsons Law, a law firm specialising in conveyancing, land and property founded in 2004, was completed last week. 

The deal will add conveyancing to the company's existing client services; financial planning, asset management, tax, HR and private and corporate legal advice. 

Neil Moles, chief executive of Progeny, said: "Watsons Law will bring a huge amount of residential real estate conveyancing experience to the business, and with it we can offer another vital and high quality service to our clients.

"Julian and the team have a strong track record of unparalleled expertise and guidance in this space in addition to a quality client following."

In July last year Progeny set its sights on the acquisition trail after a recruitment drive saw it gain 29 members of staff in the first six months of 2020 despite lockdown restrictions. 

The expansion plans followed a period of growth for the company, which gained more than £180m in assets under management in the first six months of last year — up 75 per cent on new business in the same months during 2019. 

Julian Watson, managing partner at Watsons Law, said it was an "exciting new chapter" in his firm's history. 

Watson said: "A larger firm brings opportunities of scale; becoming part of Progeny’s multi-disciplinary business offers unique opportunities for exponential growth.

"Our clients can now benefit from a vast range of additional services to meet all their legal and financial needs."

rachel.mortimer@ft.com