NWF Advisory Group Inc., based in Los Angeles, and WHJR Associates, based in Campbell, Calif., are merging to create a $2.5 billion company that will operate under the NWF name, it was announced Wednesday.
The firms are part of the Royal Alliance Associates network, and with the merger become one of Royal Alliance’s largest Offices of Supervisory Jurisdiction, says Advisor Group, which facilitated the merger.
NWF is led by president and CEO Shehab Mohammad, and WHJR is led by CEO Wolfgang Remkes.
The merger follows the trend in the financial industry of consolidating firms, according to Advisor Group, which assists its members with succession planning. Advisor Group is made up of FSC Securities Corporation, Royal Alliance Associates, SagePoint Financial and Woodbury Financial.