Professional-services firm Progeny has acquired Nottingham-based wealth manager Fiscal Engineers for an undisclosed sum.
Fiscal Engineers provides investment services for business owners, entrepreneurs and senior executives.
The acquisition will take Progeny’s AuM to £8bn ($10.1bn, €9.2bn) and allow both businesses to combine their expertise.
Chief executive at Progeny Neil Moles, said: “Fiscal Engineers’ well-researched and methodological approach to providing advice is progressive and effective in equal measures and will add a great deal of value to our own proposition.”
Founder and executive chairman at Fiscal Engineers Shane Mullins, added: “We believe combining our own unique strengths with Progeny’s will help both businesses fulfil our shared ambitions of delivering a world-class wealth management service and continually improving what we offer to clients.”
This acquisition comes after Progeny purchased international wealth management company The Fry Group last April.