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Progeny to grow tech team as it eyes next generation of clients

Progeny to grow tech team as it eyes next generation of clients
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Progeny is looking to double the size of its technology team as the national advice firm sets its sights on attracting the next generation of clients.

In its 2020 annual report, the adviser said its technology team will have doubled in size by the end of 2021, as it aims to use technology to create an “outstanding” client experience.

The firm said: “As part of creating an exceptional experience, the next generation of clients will expect a technology-led proposition from their financial and professional services advisers.

“Technology will play a key role in reaching this demographic and in helping us succession plan our client base in the years to come.”

As part of its plans to attract the next generation, the firm is also aiming to build a new website this year to educate and inform new demographics on the benefits of professional advice.

Progeny said: “Our aim is to create a comprehensive educational resource of content across financial advice and all areas of our professional services offering.

“This will increase understanding of the vital role they can play in the lives of the next generation of clients.”

The plan to grow the technology team comes after the adviser increased the firm’s headcount by 22 per cent during 2020, with the recruitment of 52 new team members last year.

According to Progeny, the firm has grown in four years from an annual turnover of £1m and a team of 12 advisers, to a turnover of £14.5m with a team of 31 advisers.

The firm added that acquisitions had contributed to half (£7.5m) of the figure, with the balance coming from organic growth, internal referrals and new services including tax.

Progeny launched a tax arm in 2019 in a bid to bring financial planning, investment management, private and corporate legal counsel and tax services together under one roof.

The firm launched an adviser academy in 2019 and since then 11 advisers have enrolled.

chloe.cheung@ft.com

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