Progeny has expanded overseas with its acquisition of international tax, financial and estate planning firm The Fry Group.
The Fry Group has 191 employees across four offices in the UK, as well as in the UAE, Singapore, Hong Kong and Belgium.
It specialises in tax, estate and financial planning, and the acquisition will increase Progeny’s assets under management to £5.5bn.
The deal, which is subject to regulatory approval, is the 14th for the firm which bought a Hampshire-based adviser last month.
Chief executive officer of The Fry Group, David Pugh, said: “The wellbeing of our team is a priority and in this area we have more common ground with Progeny, who share our passion for attracting, inspiring and developing exceptional people.
“We are both values-based businesses with a sharp focus on clients, building trust and long-lasting relationships with them and aiming to always exceed their expectations."
Chief executive of Progeny, Neil Moles, said the international expansion of the group brings “fresh new opportunities” for clients.
“We are always focused on new horizons and on pushing ourselves to meet fresh challenges.”
Earlier this year, Progeny said it was relaunching its adviser academy over summer 2022 to allow for a single September intake of new planners.
sally.hickey@ft.com
