The combined firm will retain all current employees.
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Two wealth management firms in Farmington are merging to form a larger business under the RGB Financial name.
Tunxis Wealth Management will join RGB Financial, the firms announced this week.
The combined firm will retain all current employees, with RGB Financial’s brother/sister team Jennifer Brochu Chase and David Brochu leading the business.
Both firms are family-owned and have multiple generations actively involved in their operations.
“Upon realizing the striking similarities in our organizational culture, we saw the merger as a natural next step forward, ensuring that our clients continue to receive the exceptional service they have come to expect,” the announcement states.
RGB Financial is part of LPL Financial, the largest independent broker-dealer in the country with nearly 29,000 financial advisers.
As a result of the deal, RGB Financial will have nine financial advisers on its team and a total of 14 employees.
Tunxis Wealth will move from 231 Farmington Ave. to RGB Financial’s office at 6 Executive Drive, Suite 103.
RGB Financial will expand its office footprint to 7,000 square feet to accommodate the new employees. The Tunxis Wealth team will move into the office once construction is complete in September.
The deal coincides with a broader consolidation trend within the wealth management industry.
