Leeds-based Progeny Group, which combines Financial Planning, legal and asset management services, has acquired Evolve Financial Planning.

The acquisition of Evolve, the UK’s first Financial Planner to receive corporate Chartered status in 2007, will see Evolve become part of Progeny Wealth, the group’s wealth management arm.

Founded in 2004 with offices in Croydon and London, Evolve provides Financial Planning and investment advice across the country with a concentration of clients in the Home Counties. Many of its advisers are Certified Financial Planners.

Under Progeny’s ‘acquire to hire’ strategy, founder and managing director, Antony Williams, will join the group along with all of Evolve’s directors and advisers, expanding Progeny’s wealth management capabilities in the South of England.

Evolve’s clients will also get access to the wider group’s asset management and private and corporate legal advisory services.

The latest acquisition, for an undisclosed amount, increased Progeny’s assets under advice to over £1bn for the first time.

Founded in 2014 with £250m in assets, over the last four years Progeny has quadrupled its assets, increased staff and opened five offices across three counties and 58 employees.

Neil Moles, managing director of Progeny Group, said: “This acquisition marks a pivotal moment for Progeny Wealth, bringing our assets to over £1bn.

“Evolve has always been passionate about the professionalisation of the Financial Planning industry which fully aligns with our strategic vision.

“Progeny continues to lead the industry in transforming towards a transparent full-service offering providing in-house wealth and legal advisory services, including the recently launched subscription service Club Legal.

“We look forward to Antony and his team joining the Progeny family, further developing our geographic footprint and catering to the needs of companies, charities and individuals across the country.”

Antony Williams, managing director of Evolve Financial Planning, added: “We have been watching Progeny’s rise for some time and are excited to be involved in realising our shared vision of creating a countrywide network of professional, highly qualified, client orientated advisers. Our clients across the UK will now be able to benefit from access to a broader offering of in-house advice.”