Professional services group Progeny has bought financial planning firm Lewis Brownlee Financial Services for an undisclosed sum.
The acquisition will allow Progeny to further expand its presence in the south of England and take its assets under management to nearly £7bn ($8.3bn, €8.1bn).
Established in 1990, Lewis Brownlee Financial Services has offices in Chichester, Midhurst and Whiteley. The firm is also a previous winner in International Adviser’s UK Best Practice Awards – including winning both excellence in client service and excellence in marketing in 2019.
Steve Burns, managing director of Lewis Brownlee Financial Services, said: “This is an exciting time for both us and our clients. Joining Progeny will allow us to continue to flourish while remaining loyal to our founding principles and the ethics and values we have worked hard to embed in the business.
“Becoming part of a multi-disciplinary professional services firm will also allow us to increase the range of services we offer, bringing a new scale and scope that will present fresh opportunities for our clients and our team members.”
Adding value
Progeny has been very active in the M&A market over the last year as it has acquired Edinburgh-based financial planning firm Balmoral Asset Management and international advice firm The Fry Group for an undisclosed sum.
Neil Moles, chief executive of Progeny, said: “Lewis Brownlee Financial Services has established themselves as a firm focused on building trusted relationships, driving up standards and providing meaningful financial planning and financial services for their clients.
“Their team members pride themselves on the highest levels of professionalism and integrity and so we are delighted that they will be joining us at Progeny.
“We are looking forward to welcoming them and to the value they will add to the business.”
