The Boston area firms of Argent Wealth Management and Pillar Financial Advisors have announced their merger as of November 1.
The new firm, now known as Argent Wealth Management LLC, will manage a combined $1.2 billion in client assets and will continue to offer investment, tax, financial and estate planning services, according to the firms. The firms plan to combine operations in Waltham, Mass., in January.
Both fee-only firms have been providing independent investment and financial advisory services to high-net-worth individuals for over 20 years.
“The Argent/Pillar merger is a merger of two firms of roughly equal size in terms of assets, numbers of clients and staff,” said David Duchesneau the president and founder of Argent. “Our new company will be even better and deeper, with synergies and complementary strengths that exceed the stand-alone resources of the individual firms.”
William Baldwin, president of Pillar Financial, served as chairman of the National Association of Personal Financial Advisors (Napfa) in 2009 and 2010. He was also listed among the organization's “30 Most Influential People.”
“Combining our firms gives us the ability to grow while remaining a private company, with capabilities that are among the most sophisticated, comprehensive and respected in our industry,” Baldwin said.
DeVoe & Company acted as a merger consultant, according to the announcement.