Titan Wealth has bought Progeny International, a tax-led financial adviser specialising in internationally mobile individuals.
The deal will add $900m of assets under advice to Titan’s wealth management operation and expand its global footprint across Europe, Asia and the Middle East.
Progeny’s operations in Belgium, Singapore, Hong Kong and Dubai help nomads navigate financial, regulatory and tax considerations across multiple jurisdictions.
The financial terms of the deal, which is subject to regulatory clearance, have not been disclosed.
Andrew Fearon, joint group chief executive 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.
“It has built an outstanding reputation for delivering specialist advice to clients with increasingly complex cross-border requirements and its presence in several of the world’s leading wealth hubs significantly enhances our global reach.
“This acquisition reinforces our commitment to providing clients with a seamless, integrated wealth management proposition wherever they are based, and we are excited to partner with the team as we continue to expand our international capabilities.”
Tom Wood, chief executive 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.
“With these foundations in place, we are well positioned to further our growth and deliver sustainable value for clients, colleagues and shareholders as we enter the next chapter of Progeny’s development.
“The future of the international market business is in great hands with Titan Wealth, who are committed to delivering excellent investment outcomes for clients.”
