Progeny has bought advice firm Chartered Wealth Management, taking total assets under management to £9bn.
With offices in Manchester and London, the firm offers tailored financial planning and asset management services to high-net-worth clients.
Mark Stanbury, founding director of Chartered Wealth Management, said: “This is an exciting day for our team and our clients, as we join Progeny – a business rapidly growing in scale and profile.
“We look forward to being part of this unique business as well as the mission to transform and improve financial advice for the better, for our clients and the industry at large.”
This purchase, which was for undisclosed sum, will see 21 members of staff including nine chartered financial planners and wealth managers move over to Progeny.
Neil Moles, chief executive at Progeny, said: “This is the culmination of a five-year search for the right firm, one that will allow us to expand into a new geography but which also crucially meets the strict criteria we set for our acquisition targets around average client size and age, as well as the age and ambition of the firm’s team.
"With Chartered Wealth Management onboard, we look forward to building our presence and extending our proposition in the north west of England. There are exciting times ahead.”
Following its acquisition of The Fry Group in 2022, Progeny now has offices in the United Arab Emirates, Singapore, Hong Kong and Belgium.
In October 2023, the firm snapped up Scotland-based Carbon Financial Partners adding £600mn to its assets under management.
alina.khan@ft.com
