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Ohio-based financial planning firms Skylight Financial Group and Lighthouse Wealth Solutions, which are affiliates of Massachusetts Mutual Life Insurance, have agreed to merge.
The combined entity will operate under the brand of Skylight Financial Group and will manage over $5bn in assets.
It will employ more than 260 financial professionals and over 50 support staff. Around 50 new employees will relocate to the Ohio City headquarters as part of the deal.
The new entity will be led by Skylight managing partner Paul Fox and Lighthouse managing partner Mike Connole.
“Combining our talents and resources means we can extend the breadth and depth of our practice and deliver a superior service to our clients than the two separate firms could have done. The merger will enable us to be a strong player in Cleveland and throughout Ohio and our team are fired up about the opportunities this will bring,” Fox said.
