The terms of the deal were not disclosed.

US-headquartered Skylight Financial Group and Lighthouse Wealth Solutions will merge to create one the largest locally-owned financial services firms in the state of Ohio. The firm will hold $5 billion in assets under management, and together with MassMutual Ohio, an affiliate of Skylight, will have a presence in Cleveland, Cincinnati, Dublin (Ohio) and Toledo (Ohio).

Operating under the Skylight Financial Group name, the idea behind the merger is to create a "first-class" client experience, delivering a greater depth of knowledge than either of the firms can on their own.   

“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,” said Paul Fox, managing partner of Skylight Financial Group, who will jointly head up the new firm with Mike Connole, managing partner of Lighthouse Wealth Solutions.

“There’s great synergy between the two firms and we now have the scale and ambition to deliver great outcomes for our clients in Cleveland and throughout Ohio,” said Connole.

The new firm will have over 260 professional financial professionals, and will be adding 50 new roles through the merger. Its headquarters will be in Ohio City.