Progeny Group has bought Guiseley-based financial advice firm J M Glendinning Financial Services for an undisclosed sum.
This comes several days after US-headquartered private equity firm Further Global Capital Management acquired a majority stake in Progeny Group.
J M Glendinning, which has a team of 12, was established in 1987 and provides financial planning services to a number of private clients and their families in Yorkshire and around the UK.
The deal will allow Progeny to expand its presence in Leeds and the wider Yorkshire area and Glendinning’s clients will have access to a range of services via Progeny’s professional services offering.
As a result of the deal, Progeny has recruited additional staff to help integrate Glendinning into the business.
‘Clear philosophy for growth’
Neil Moles, chief executive of Progeny, said: “Our acquisition strategy is driven by our long-held commitment to providing a high-quality service to clients, with a high-performing and skilled team and our acquisition of J M Glendinning is very much in keeping with this.
“As we have said on many occasions, clients’ needs and concerns will always be paramount, and prioritised ahead of profit. We have a clear philosophy for growth, and clients – existing and future – will always be at the heart of this.
“This is why we have recruited a number of additional team members to ensure the integration of the Glendinning’s business is seamless and to be ready to hit the ground running for their clients from day one.
“In recruiting a number of new team members we’re also happy to help drive the post-pandemic recovery in the region and keep growing our business, and shaping the financial advice industry of the future. We are building a business, not buying one, and we’re passionate about creating an environment where exceptional financial planners can excel.”