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Coastal Wealth acquires 2 MassMutual firms

Fort Lauderdale, Fla.-based Coastal Wealth LLC acquired Jacksonville, Fla.-based MassMutual Southeast Coast and MassMutual South Florida, the Jacksonville Business Journal reported.

The acquisition brings together 73 advisers, managers and support staff from MassMutual Southeast Coast and 159 from MassMutual South Florida under Coastal Wealth, doubling the size of its team, the report said.

The transaction also introduces Coastal Wealth's brand into Georgia and Alabama.

Coastal Wealth, MassMutual Southeast Coast and MassMutual South Florida share the same parent company, Massachusetts Mutual Life Insurance Co.