British wealth manager Progeny Group has snapped up Chestergate Financial Planning, a local financial planning firm, for an undisclosed sum.

Chestergate’ Salisbury and London teams will join Progeny as part of the deal. The deal also involves Chestergate management taking a minority stake in Progeny.

Progeny managing director Neil Moles said: “Adding Chestergate means that a large and affluent southern market in and around Salisbury will now have access to Progeny’s offering, and they will generate synergies with our existing London operations.

“We know that wealthy clients need legal advice on their financial affairs at least every two years, and having this advice delivered alongside planning advice from the same firm simplifies and improves the whole process.”

Progeny was created in 2016 following the merger of wealth management business Lawrence Scoffield Group with law firms Progeny Private Law and Mark Burns Legal Services. This is Progeny’s second acquisition in 2017.