Titan Wealth is to buy Progeny International, the overseas arm of Financial Planner Progeny Group, for an undisclosed sum.
The deal will add approximately £900m of assets under advice to Titan’s international business, along with 13 financial advisers.
The deal remains subject to regulatory approval.
Formerly part of the Fry Group, Progeny International is a tax-led Financial Planning business with offices in Belgium, Singapore, Hong Kong and the Dubai International Financial Centre.
Titan said the deal should significantly strengthen its international presence, as well as enhancing its ability to provide integrated wealth management solutions to clients with international interests.
Andrew Fearon, joint group CEO and head of M&A at Titan Wealth, said: “International expansion is a key part of Titan Wealth’s long-term growth strategy and Progeny International is a highly complementary addition to our growing international business."
Progeny said that the disposal of its international business is part of a refocus of the business on the UK market.
Tom Wood, CEO of Progeny Group, said: “The sale of our international business marks a pivotal moment in our journey and a decisive step in sharpening our strategic focus. Over the past year, we have undertaken a deep strategic review, creating a simpler, stronger and more agile organisation that can scale effectively and deliver consistently strong outcomes for clients.
“This move is about focus, clarity and ambition. By concentrating our resources on our core UK market and capabilities, we are reinforcing our commitment to financial resilience, operational excellence and technology-enabled service.”
Titan Wealth was formed in 2021 to provide industry leading solutions and outcomes to both retail and institutional clients. Headquartered in London, Titan Wealth serves clients domestically as well as overseas through its operations in the Channel Islands and the UAE. The firm has approximately £45bn of assets under management or advice.
Progeny is a Chartered Financial Planning firm founded in 2016. It is based in Leeds and manages over £9bn in assets and employs 700 staff.