Financial planning provider, Progeny, has acquired the Nottingham-based wealth manager, Fiscal Engineers.

The move will take Progeny’s its assets under management to £8bn as well as strengthen its presence in the Midlands.

Fiscal Engineers uses a family office approach to provide bespoke services for business owners, entrepreneurs and other individuals who have substantial investment needs. The company launched in 2000 and also has offices in Birmingham and London.

“This move will enable us to keep building on everything we’ve achieved over the course of the past 23 years,” said executive chairman and founder of Fiscal Engineers, Shane Mullins. “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.

“We’re very excited about this chance to grow the Fiscal Engineers family, broaden our proposition and deliver even more benefits to our clients, team and professional friends.”

Progeny CEO, Neil Moles, added: “Over nearly a quarter of a century, Fiscal Engineers has built a highly prestigious advice firm that services a select and extremely discerning client base.

“Its well-researched and methodological approach to providing advice is progressive and effective in equal measure and will add a great deal of value to our own proposition.

“It’s great to be able to welcome Fiscal Engineers and its clients into Progeny as we realise the full potential of two great businesses coming together.”

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