Argent Wealth Management and Pillar Financial Advisors have merged into a new firm, now known as Argent Wealth Management, which will manage a combined $1.2 billion in client assets.

The two firms will operate in their current locations until January 2014, at which point they will merge operations in Waltham, MA.

Both fee-only firms have been providing independent investment and financial advisory services to high net worth individuals for more than 20 years.

“The Argent/Pillar merger is a merger of two firms of roughly equal size in terms of assets, numbers of clients and staff,” said Argent president and founder David Duchesneau.

“Combining our firms gives us the ability to grow while remaining a private company, with capabilities that are among the most sophisticated, comprehensive and respected in our industry,” added Pillar president William Baldwin.