Progeny acquires Chartered Wealth Management

Progeny, a multi-disciplinary professional services firm, has announced the acquisition of Chartered Wealth Management, a move which will take Progeny’s total assets under management to £9bn.

Chartered Wealth Management, with its offices in Manchester and London, specialises in bespoke financial planning and asset management for high-net-worth individuals.

The acquired firm boasts a 21-strong team, including nine Chartered financial planners and wealth managers, cumulatively offering 170 years of experience in financial advisory services.

Mark Stanbury, founding director of Chartered Wealth Management, expressed enthusiasm about the merger, stating: “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.”

Neil Moles, CEO of Progeny, highlighted the strategic fit of the acquisition, adding: “It’s a pleasure to welcome such a prestigious and high-performing business into Progeny, one which is forward-thinking and committed to excellence in equal measure.

“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.”

Moles further added: “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.”