The Progeny Group Bewertungen 

Four years as a fully managed client of Progeny. Here’s what that actually looked like in practice.

Every fund recommendation I received was a Progeny in-house product, justified each time with simulated rather than real performance data. For a firm that markets itself as independent, I was never once shown an alternative outside their own range.

My adviser left the business without anyone telling me. A replacement was assigned internally, but I wasn’t informed. I found out almost a year later by asking. Fees continued throughout.

During that same period, an administrative error meant my pension contributions were going into the wrong fund for 12 months. The compensation offered when I complained was a fraction of my actual loss.

In four years, no retirement modelling or cash flow planning was ever done with me. I had to build my own retirement projection because nobody at Progeny ever did it, despite that being a core part of what I was paying for.

When I’ve tried to get answers, emails go unanswered for weeks. Their main phone line goes to answerphone.

I’m now considering pursuing the matter with the Financial Ombudsman. I’d encourage anyone considering Progeny to ask very specific questions about what the ongoing service actually delivers, not just what it promises.

Edit 31/10: Progeny have responded to this public review within 3 days, but took 3 months to respond to my formal complaint. I followed up their response to my formal complaint with questions and have so far waited 3 weeks for a response to the question “how did you calculate the compensation offered?” - I am yet to receive a response. Messages on their phone number (which they do not answer, and instead ask you to leave your name and number) are not responded to. I’m not sure how to contact them directly when they do not answer the phone, do not call you back and do not respond to emails!