Financial adviser expands into Scotland with new acquisition

Neil Moles

Over the last decade Innovate has built its reputation as the financial planning and wealth management firm of choice in Edinburgh.

Progeny, which has offices in London, Leeds and Salisbury employing more than 35 investment professionals and more than 20 lawyers, said Innovate’s commitment to client service and technical excellence chimes with its ethos and will “help the group offer a UK-wide presence with a consistently high level of service”.

Innovate’s clients will now be able to benefit from the wider Progeny Group’s asset management, wealth planning and legal services, offered with transparent costs. In line with Progeny’s ‘acquire to hire’ strategy, the Innovate management team and staff will join the Group.

Neil Moles, managing director of Progeny Group, said: “We are not pausing in the development of the Progeny Group. Edinburgh is a burgeoning commercial and financial centre and serves clients all over Scotland and northern England.

“Innovate’s clients will now have access to the Progeny formula of wealth planning and management as well as legal advice in one place, offered with a transparent fee tariff.”

Chris Donald, managing director of Innovate Financial Services, added: “We are delighted to become to part of the Progeny Group and their first expansion into Scotland. The Progeny Group will provide our clients with a superior service and investment proposition as well as enhanced career opportunities for our employees.”

A team from Progeny Corporate Law, led by Alistair Scott Somers acted as legal adviser to Progeny on the transaction.

Progeny Corporate Law is one of Progeny’s four business areas, which include Progeny Wealth, Progeny Asset Management and Progeny Private Law.