Leeds-based Progeny announces acquisition of Chartered Wealth Management

Chartered Wealth Management, which has offices in Manchester and London, provides financial planning and asset management services to high-net-worth clients. The company has 21 staff including nine chartered financial planners and wealth managers.

Mark Stanbury, the founding director of Chartered Wealth Management, said: “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.”

Progeny’s CEO, Neil Moles, said: “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.”

“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.”

A team from global law firm Squire Patton Boggs acted as legal adviser to Progeny during the deal and law firm TLT acted for shareholders of Chartered Wealth Management.