Private equity-backed Progeny to acquire Edinburgh adviser

Ayesha Venkataraman
clock • 2 min read
Private equity-backed Progeny to acquire Edinburgh adviser

Private equity-backed Progeny will expand its presence in Scotland through its latest acquisition plans. The multi-services company will buy Balmoral Asset Management, a financial planning firm based in Edinburgh, it said. The advice business was founded in 1999 to provide wealth management to private clients. This deal will take Progeny's total assets under management to more than £6.5bn, it said. It was not clear how many staff would join Progeny as part of the deal nor how the firms ...

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