Multi-disciplinary professional services firm, Progeny, has acquired award-winning, Nottingham-based wealth manager, Fiscal Engineers.

This will strengthen Progeny’s presence in the Midlands and take its assets under management to £8 billion.

The move will allow the two businesses to combine their expertise, complement each other’s offerings and build on their shared principles, values and strategic thinking.

Fiscal Engineers uses a Family Office approach to provide bespoke services for business owners, entrepreneurs and other individuals who have substantial investment needs.

The company, which is based in Nottingham and also has offices in Birmingham and London, has won a number of awards for financial services and innovation since its launch in 2000.

Fiscal Engineers Executive Chairman and founder Shane Mullins said: “This move will enable us to keep building on everything we’ve achieved over the course of the past 23 years.

“We believe combining our own unique strengths with Progeny’s will help both businesses fulfil our shared ambitions of delivering a world-class wealth management service and continually improving what we offer to clients.

“We’re very excited about this chance to grow the Fiscal Engineers family, broaden our proposition and deliver even more benefits to our clients, team and professional friends.”

Progeny CEO Neil Moles said: “Over nearly a quarter of a century, Fiscal Engineers has built a highly prestigious advice firm that services a select and extremely discerning client base.

“Their well-researched and methodological approach to providing advice is progressive and effective in equal measure and will add a great deal of value to our own proposition.

“It’s great to be able to welcome Fiscal Engineers and their clients into Progeny as we realise the full potential of two great businesses coming together.”

A team from global law firm Squire Patton Boggs acted as legal adviser to Progeny during the deal. Fiscal Engineers’ side of the transaction was led by the company’s own management team.