Wayne, Pa.-based Devon Financial Partners announced on Wednesday that it has merged with Bethesda, Md.-based First Financial Group.
First Financial will now have $3 billion in assets under management, $16 billion in life and disability insurance in force, 4,500 business clients and 36,000 total clients, according to the firms’ announcement. First Financial’s CEO Lloyd Polmateer will continue in his role.
Devon Financial Partners managing partner Steve Earhart will serve as First Financial Group’s president of Pennsylvania, New Jersey and Delaware.
“By joining with FFG, we leverage the talents, resources and expertise of both organizations to benefit our clients,” said Earhart in comments released on Wednesday. “We’re looking forward to accelerated growth and increased opportunities for both our clients and our advisors.”
First Financial has offices in Bethesda, Sparks and Annapolis, Md.; Virginia Beach and Woodbridge, Va.; and Lancaster and Wilkes Barre, Pa. With the addition of Devon Financial Partners’ location, the combined firm will retain nine offices in three states plus Washington, D.C.