US-based Argent Wealth Management has merged with Pillar Financial Advisors effective 1 November 2013.

The new firm, Argent Wealth Management, will manage a combined US$1.2 billion in client assets and will offer investment, tax, financial and estate planning services.

Pillar Financial said that the two firms will operate in their current locations until January 2014 when they will merge operations in Waltham, Massachusetts.

David Duchesneau, president and founder of Argent, said: "The Argent / Pillar merger is a merger of two firms of roughly equal size in terms of assets, numbers of clients and staff.

"Our new company will be even better and deeper, with synergies and complementary strengths that exceed the stand-alone resources of the individual firms," Duchesneau added.

William Baldwin, president of Pillar, said: "Combining our firms gives us the ability to grow while remaining a private company, with capabilities that are among the most sophisticated, comprehensive and respected in our industry."