Addidi Wealth acquired by Progeny

Mergers & Acquisitions | South East

Addidi, ‘the voice of women’s wealth’, has been acquired by Progeny for an undisclosed fee.

The Addidi team based in London is now part of the national professional advisory firm, Progeny. As part of Progeny, Addidi will focus on growing their wealth advisory services for women and offering an expanded range of expertise including legal and tax advice.

Addidi, founded by Anna Sofat and her husband, Janardan, in 2006, was established to redefine the culture of wealth and put women at its heart. Anna’s vision for Addidi continues to be helping women grow their wealth, build businesses, nurture their families and lead fulfilled lives.

Having built a highly successful financial advice practice on these principles, and ambitious to further the representation of women in the wealth industry, Anna approached Progeny to explore partnering for the next phase of her business development.

Anna Sofat, Chief Executive Officer of Addidi, said: “Progeny have brought together financial, legal and tax advice under one roof for the first time in the UK, so who better to partner with in extending Addidi’s vision to a wider audience and effecting real change in democratising the financial services space?

“Currently, around 90% of female clients say that they feel underrepresented and unsupported by the financial industry as a whole. Together with Progeny, we aim to change that.”

Neil Moles, Chief Executive Officer of Progeny, said: “At Progeny we are always looking ahead, developing strategies to adapt and evolve the way our business operates to ensure that we are creating opportunities for others and leading the industry towards a better future.

“As such, we are delighted to welcome Anna and the Addidi team to Progeny, to strengthen our financial planning offering and pursue an agenda of equality and inclusivity in financial advice. We look forward to working together to transform the way this industry operates for the benefit of investors, as well as the next generation of professionals.”

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