Advisor Group, a national independent broker-dealer network serving wealth management firms, and network firm Woodbury Financial Services, Inc., have negotiated an M&A succession deal valued at $410 million in combined client assets, according to a news release.

Under the deal, financial advisors Joseph Di Biasi and Gregory McElheny, formerly with MML Investors Services LLC, where they managed $170 million in combined client assets, agreed to purchase Woodbury affiliate Herb White’s practice, Life Certain Wealth Strategies, overseeing $240 million in client assets, and join him on the Woodbury platform. Upon finalizing the transaction to acquire Life Certain Wealth Strategies earlier this year, the newly merged firm now oversees $410 million in combined client assets.

Advisor Group’s succession & acquisition team, led by Todd Fulks, senior vice president of succession and acquisition, played a key role in facilitating the transaction and recruiting Di Biasi and McElheny, as did Woodbury Regional Vice President Nathan Anderson, the company said.

The merged practice now operates under the name of White's practice, Life Certain Wealth Strategies, with offices in Greenwood Village and Colorado Springs, Colo. The leadership team includes White as president; Di Biasi as CEO; and McElheny as chief operating officer. Team members also include Suzanne Charrin; Brian Marston; Randy Stone; and Michael Labedz.

In the news release, White said that it was crucial to find succession partners who would not only be a great fit for his firm’s culture, but would also be willing to affiliate with Woodbury to ensure its continued success.

“We joined their platform nearly two decades ago,” White said in the news release. “This transaction and succession plan give me the reassurance of knowing that my clients will be in great hands after I retire, and I could not be more thrilled to work with Joe and Greg moving forward.”

Woodbury Financial Services Inc., an RIA headquartered in Oakdale, Minn., is part of Advisor Group, headquartered in Phoenix, Ariz., which also includes FSC Securities Corporation; Investacorp Inc.; KMS Financial Services Inc.; Royal Alliance Associates Inc.; SagePoint Financial Inc.; Securities America Inc.; Securities Service Network; and Triad Advisors LLC.