The Rehmann Group plans to merge with MSW Group to create Michigan's second largest wealth management and consulting firm. The merger is expected to take effect on Jan. 1, 2009. Financial terms of the deal were not disclosed.

The combined firm will retain the Rehmann name and have about 600 employees, including roughly 560 from Rehmann and 35 from MSW Group. Rehmann plans to keep all of MSW's employees and its office in Farmington Hills, Mich.

Rehmann had $54 million in revenue in 2007, with $63 million projected for this year. After the merger with MSW, Rehmann CEO Steve Kelly projected the marriage would result in generating more than $70 million in revenue.

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