Univest Corporation of Pennsylvania, a $1 billion-asset banking company, is buying a local broker-dealer.

The price was not undisclosed.

Fin-Plan Group, based in Wayne, would be subsidiary of Univest, which is based in Souderton.

Fin-Plan offers financial planning, investment management, insurance products, and brokerage services to consumers.

The purchase would create "a strong, independent financial services provider for the southeast Pennsylvania marketplace," said Robert J. Sims, chairman of Fin-Plan.

The deal, announced last week, is expected to close during the first quarter.

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