Financial Planning group Progeny has recruited 29 new staff this year and reported a 28% rise in revenue in the first half.

The company says it has attracted £180.2m of new business (new assets) in the first half, up 75% on the 2019 H1 new business figure.

Revenue growth was 28% year on year and was predominantly organic, the firm said. EBITDA increased by 24% year on year.

To help with growth Progeny took on 29 new staff  in Marketing & Communications, HR, IT, Operations, Law, Tax and Wealth Management. The company also recently appointed a chief technology officer.

Eight advisers have also graduated from the firm’s Adviser Academy since its launch in 2019 with two more lined up to join.

The company says it has not furloughed staff but instead concentrated on plans to accelerate growth and increase capacity.

The firm added that while Covid-19 issues have affected its acquisition strategy it continues to “actively explore” further deals.

Progeny has acquired a number of Financial Planning firms in recent years including Chestergate, Evolve and recently Addidi.

The company offers a range of financial and legal services including Financial Planning, asset management, tax, HR and private and corporate legal services.

Neil Moles, CEO of Progeny, said: “The events of the first half of this year have created a unique trading environment for businesses across nearly all sectors.

“Our results show that it is possible to put clients first and still make profit. We have continued to provide a high-quality service to our clients while delivering a strong business performance for our investors.”

The company has 8 offices across the UK, including London, Leeds, Edinburgh and Bucks and went into lockdown ahead of the government's guidelines. The firm’s 150 staff moved to remote working in 2 weeks.