M and A

UK's Progeny Acquires Wealth Manager, Expands AuM To £8 Billion

Editorial Staff 9 August 2023

UK's Progeny Acquires Wealth Manager, Expands AuM To £8 Billion

The transaction is an example of continued M&A activity in the UK wealth management space.

UK professional services firm Progeny has acquired Nottingham-based wealth manager, Fiscal Engineers, a business that uses a “family office” approach.

The acquisition, the terms of which were not disclosed, will strengthen Progeny’s presence in the Midlands and take its assets under management to £8 billion ($10.2 billion), Progeny said in a statement this week.

“Fiscal Engineers uses a family office approach to provide bespoke services for business owners, entrepreneurs and other individuals who have substantial investment needs,” Progeny said of Fiscal Engineers.

Besides its Nottingham headquarters, Fiscal Engineers, bought in 2000, has offices in Birmingham and London.

Register for WealthBriefing today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes