Philadelphia-based HBKS Wealth Advisors announced on Tuesday that it has completed a merger with Locust Capital Management.

Locust, also based in the Philadelphia area, serves 340 families and manages $380 million in client assets.

“We are pleased to welcome Locust Capital Management to our network of wealth managers,” said Christopher Allegretti, HBKS managing principal and CEO, in released comments. “They have built a tremendous business based on forging deep and valued relationships with their clients. In considering a merger, we look to partner with like-minded ethical professionals. Locust Capital has had proven success in building a strong presence in Philadelphia and surrounding communities and we are excited to have them join the HBKS team.”

The combined firm will operate as HBKS, which most recently advertised that it has over $2.4 billion in AUM.

HBKS is the wealth management business of HBK CPAs and Consultants, encompassing 500 financial and support professionals and offices in five states: Pennsylvania, Ohio, New Jersey, New York and Florida.