Professional services firm Progeny is to acquire chartered financial planning practice Gibbs Denley, extending its footprint to East Anglia.
The deal will take assets under management to more than £7.5bn. Financial details were not disclosed.
Established in 1990, Gibbs Denley has 36 team members, including seven chartered financial planners, across three offices – in Cambridge, Bury St Edmunds and Chelmsford.
Simon Rees, managing director, Gibbs Denley, said: “Over 30 years we have built a highly successful business by providing exceptional customer service and nurturing trusted, long-term relationships with our clients.
“In becoming part of Progeny we take a quantum leap in the services we provide to our clients, with financial planning, investment management, legal and tax specialists in-house.”
Neil Moles, CEO of Progeny, added: “A trusted, highly professional and ethical firm with great people: Gibbs Denley are an illustrious business.
“Naturally, we’re very happy that they have joined Progeny, bringing with them a stellar team, superlative standards and a connection with their communities that stretches back many decades. I look forward to what we can achieve together.”
The acquisition is the latest in a string of M&A deals by Progeny, which most recently scooped up Lewis Brownlee Financial Services in November 2022.
Last year also saw it acquire Edinburgh-based financial planning firm Balmoral Asset Management and international advice firm The Fry Group.
