Klingenstein Fields Wealth Advisors (KFWA) Monday announced that it has acquired the assets of The Solaris Group, a New York-based wealth advisor, according to a news release.

Solaris had about $1.4 billion in client assets under management, according to a company spokesperson.

N.Y.-based Klingstein will manage more than $4 billion in the wake of the deal, according to the release.

The transaction was executed through N.Y.-based KFWA affiliate KF Group. Financial terms of the deal were not disclosed.

Both firms, the release said, will benefit from shared physical, investment, human, and technology resources. Kenneth D. Pollinger, CEO and co-chairman of KFWA, and James W. Fields, president of KFWA, will maintain their roles. Kenneth H. Fields, a founding partner of KFWA, will continue as co-chairman and chief investment officer.

Solaris co-founders Ralph Sinsheimer, Albert Bellas, and Stephen Brent Wells will continue in senior positions at the combined firm and will continue to manage Solaris client portfolios and relationships, the release said.

“We identified Solaris as an institution with a high caliber of experienced wealth management professionals who share the same client-centric approach to relationship management and stewardship of their clients' assets," Pollinger said.