Professional services company set acquire South Yorkshire wealth management firm
Chartered financial planning firm RU Group is set to be acquired by multi-disciplinary professional services firm, Progeny.
Wealth mangement and retirement specialists Ru Group, are to become part of Progeny, increasing the firm’s total assests under management to over £3m. This will allow Progeny to expand its presence in South Yorkshire and the East Midlands.
The deal, subject to FCA approval, hopes to give RU Group’s clients access to an additional range of legal, financial and professional services via Progeny’s multi-disciplinary offering.
Neil Moles, CEO of Progeny, said: “We’re very happy to welcome a firm with the prestige and heritage of RU Group into the Progeny fold.
“As a locally owned and managed company, RU Group are embedded in the communities in which they operate. They have demonstrated consistent entrepreneurial organic growth in AUM and profitability, supported by a highly qualified and well-developed team with excellent potential for the future.
“We look forward to welcoming RU Group’s clients to Progeny and offering them the chance to benefit from a vast range of additional professional services to meet all their legal and financial requirements…”
The RU Group was established in its current form in 2003 but the origins of the business date back over 100 years. In its current form, its team of 48 employees are based across three offices in the UK, in Nottingham, Derby and Sheffield.
Andy Dyke, Chairman of RU Group, said: “This is a momentous milestone in the RU Group’s history, securing the future for our clients. We’re delighted to become part of the Progeny business…
“We have built a well-established firm that is also well positioned for continued future growth, with Chartered status, a strong client-first ethos and a belief in the importance of embracing technology in the future of financial advice…”
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