Progeny Group has bought Scottish-based Innovate Financial Services to form the base of its planned Scottish expansion
National advice firm and wealth manager Progeny Group has kicked off a planned buy spree with its first Scottish deal.
The firm, headquartered in Leeds, has acquired Edinburgh-based Innovate Financial Services, which will form the base of its planned expansion into Scotland.
The cost of the deal was not disclosed. All Innovate staff will join Progeny on completion.
Progeny managing director and former Wealth Manager cover star Neil Moles 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.'
Through the deal, Innovate's clients will now be able to access the group's asset management, legal planning and legal services resources.
Innovate managing director Chris Donald added: 'The Progeny Group will provide our clients with a superior service and investment proposition, as well as enhanced career opportunities for our employees.'