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Newark-based Diamond State Financial merges with firm in Media, PA

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Wechsler Marsico Simpson, a financial services firm based in Media, PA, is merging with Newark, DE-based Diamond State Financial Group.

The combined company will manage $950 million in assets.

“All WMS clients will remain with their current financial advisors, and WMS will operate under the DSFG name out of their existing location in Media with their existing personnel,” said Raymond F. Bree, a member of the senior management group. “It will be business as usual for both operations.”

Both firms provide a mix of insurance and investment products to businesses and individuals, including specialty divisions for medical/dental professionals.

“Diamond State Financial Group looks forward to expanding into Media and further enlarging our footprint in the Mid-Atlantic area,” said Christopher Burgos, another of the senior management group.

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