Wechsler Marsico Simpson a Media, PA-based financial services firm, is merging with Newark-based Diamond State Financial Group (DSFG).
Both firms are members of Securian Financial Services, Inc., a national network of 40 independent financial advisory firms based in St. Paul, MN.
With the merger, DSFG will have $950 million of assets under administration. The senior management group for the new firm consists of Raymond F. Bree, Jr., Christopher Burgos and Hardik Shah. Dominic E. Marsico, Jr. will be associate partner.
The effective date for the merger is March 12.
“All WMS clients will remain with their current financial advisors, and WMS will operate under the DSFG name out of their existing location in Media with their existing personnel,” said Bree. “It will be business as usual for both operations.”
Both firms offer insuranceand investment products to individuals and businesses. In addition, each company has a specialty division devoted to serving medical/dental professionals.
With a combined total of 35 associates and more than 9,000 clients, DSFG becomes the seventh largest firm in the Securian Financial Network (as ofMarch 12, 2018).
For more information on Diamond State, go to http://www.dsfg.com/