Wilshire employees in the U.S., Europe and Asia are expected to join Marsh when the deal closes. Wilshire has about $221 billion in assets under management and about $1.6 trillion in assets under advisement, Marsh said.

Marsh Chief Executive John Doyle called the acquisition an important step in expanding the firm’s investments business and strengthening its ties to financial advisers. He said the combination could help clients make better decisions and build resilient portfolios in an increasingly complex investment environment.