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November 5, 2021

Progeny buys JM Glendinning Financial Services

By Verdict Staff

British financial planning firm Progeny has acquired Yorkshire-based financial advice firm J M Glendinning Financial Services for an undisclosed amount.

The acquired entity, established in 1987, provides financial planning services to a select number of private clients and their families in Yorkshire and the UK.

The deal, which adds a team of 12 to Progeny, expands the firm’s footprint across Leeds and the broader Yorkshire area.

As part of the deal, Progeny will offer access to a range of services to Glendinning’s clients through its multi-disciplinary professional services offering.

Commenting on the deal, JM Glendinning Financial Services director Paul Glendinning said: “We’re really excited about joining Progeny, and in the process reinvigorating our business to take our service and offering to new levels for our clients. Progeny understand our mindset and, crucially, the aims and ambitions of our clients at a regional and national level.”

Progeny hired additional staff to support the full integration of Glendinning into its business.

Progeny CEO Neil Moles added: “As we have said on many occasions, clients’ needs and concerns will always be paramount, and prioritised ahead of profit. We have a clear philosophy for growth, and clients – existing and future – will always be at the heart of this.

“This is why we have recruited a number of additional team members to ensure the integration of the Glendinning’s business is seamless and to be ready to hit the ground running for their clients from day one.”

The deal comes close on heels of Further Global Capital Management’s purchase of a majority stake in Progeny. The investment is expected to further accelerate the firm’s ‘clear and established acquisition strategy’ as well as its expansion.

In April this year, the firm scooped up Scotland-based Affinity financial planning practice.

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