A Wormleysburg financial company announced this week it is forming a “strategic alliance” with a similar company from the Lehigh Valley that likely will lead to a merger.
Don Healey Sr., president of The Healey Group in Wormleysburg, said it has a contingency agreement for merger with Client 1st Financial LLC of Upper Macungie Township in Lehigh County that will help clients of both firms.
For now, the companies are combining forces to better serve its clients.
"We have strengths that will help them and their clients, they have strengths that will help our clients," Healey said. "By combining, we're going to be able to capture more of our clients' interests instead of each of us having to be specialists in all things."
Healey said his office specializes in wealth management, 401(k) management, executive compensation programs and estate planning. Client 1st, he said, is an office that's more technology driven and is a fee-based investment company.
Healey, who started the office in 1980, said it's the first step in a succession plan to make sure the office is in good hands when he retires.
At 58, he said he plans to work another 10 years before retirement.
"You can't be in the ninth year of a 10-year plan (to retire) and then just pull the trigger," he said.
The Healey Group has four employees and Client 1st has six, and no employees will be lost in the joint firm, Healey said.
The distance between the offices, Healey said, isn't a problem now but could be addressed in the future.
Both companies are John Hancock Financial Network franchises.