Wescott Financial Advisory Group, with offices in Fort Washington, is planning to acquire wealth management firm Asset Planning Services in Harleysville, which primarily serves current and retired Merck and other pharmaceutical executives, along with their families, writes Jeff Blumenthal for the Philadelphia Business Journal.

With $800 million in assets under management, APS will bring Wescott’s total assets under management to $3.5 billion once the acquisition is completed. The deal is expected to close before the end of the year.

The two firms share a fee-only approach to client service.

“Their client base is terrific and we love adding the niche that they have to what we are already doing,” said Wescott Founder and CEO Grant Rawdin. “They have a similar type of client base as we have and do similar work for them and they also have great people who are tremendous business developers.”

Wescott was formed as an ancillary business of Duane Morris in 1987. In addition to Fort Washington, it has offices in Philadelphia and Miami. According to Rawdin, most of its clients are located in the Philadelphia region.

Read more about Wescott Financial Advisory Group and their aquiring Asset Planning Services in Harleysville in the Philadelphia Business Journal.