WestPoint Financial Group has merged with three MassMutual agencies to form what the company claims is one of the largest insurance and wealth management firms in the Midwest.
Hoopis Group, MassMutual Illinois and MassMutual Chicago — which are sales offices of Massachusetts Mutual Life Insurance that aren’t its subsidiaries — are joining the Indianapolis-based firm and will operate under the name WestPoint Financial Group, WPFG says in a press release.
Greg McRoberts, WPFG managing partner, will oversee the combined entity, which has five hundred advisors across Indiana, Illinois, Ohio, Kentucky, Wisconsin and West Virginia overseeing $14 billion in assets under management, the company says.
WPFG also has 200,000 insurance clients and $34 billion of life insurance, according to the press release.
The companies didn’t disclose the financial terms of the deal.
Earlier this month, Fort Lauderdale, Fla.-based Coastal Wealth acquired MassMutual Southeast Coast and MassMutual South Florida.