Progeny Group is continuing to extend its multi-disciplinary professional services into Scotland with the acquisition of Affinity financial planning practice.
A five-strong team, Affinity was established in 2008 and is based in Troon, Ayrshire. It specialises in providing comprehensive financial planning services to a select number of private clients and their families in Scotland and the UK.
“We’re proud that Affinity have chosen to join the Progeny business. We share a similar mindset when it comes to looking after our clients and we are transparent and consistent in the rationale behind our business decisions,” said Neil Moles, CEO of Leeds and London-based Progeny.
“We are seeing more and more deals announced in the financial advice sector where what’s good for clients seems to be a secondary concern for the parties involved, and where profits and shareholders are prioritised. This is not our aim and never will be. We have a clear philosophy for growth, and clients – existing and future – will always be at the heart of this.”
Shona Barr, Managing Director, Affinity, said: “We invested a great deal of time and thought into the decision and weighed up a range of factors to ensure the right fit for our clients and team. Whilst change can be unsettling, I am certain that when it is done for the right reasons, it brings great long-term benefits for all parties.”
A team from Progeny’s corporate legal department acted as legal adviser to Progeny on the transaction.