Two well-known wealth management firms with combined assets of nearly $10 billion — one a rising industry power and the other a fallen one — are combining to form yet another RIA mega-firm.

Pathstone Federal Street, itself the product of a $6 billion blockbuster merger between Pathstone Family Office and Federal Street Advisors earlier this year, has agreed to acquire the assets of Convergent Wealth Advisors from City National Bank. Terms were not disclosed.

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