MetLife and Firstrust Financial Resources have announced a deal that expands both firms' financial services scope in the Philadelphia region.

MetLife specializes in retirement planning, life insurance and estate planning, and wealth management, while Firstrust focuses on wealth management. The firm, Firstrust Financial Resources will be led by principals Adam Sherman, David Fleisher, and Andrew Mc Ilhenny, who each bring over 20 years of financial services experience to the company.

"Philadelphia is a key growth market for our retail distribution channel," said Michael Vietri, executive vice president for individual distribution for MetLife. "[The deal] will expand our market share in an area where we already have a strong presence."

Philadelphia-based Firstrust has 40 people in its employ and manages around $600 million in assets. MetLife, including its affiliate New England Financial, has about 360 financial professionals and staff in the state and its surrounding communities, as well as two other established firms in Delaware Valley.