D.A. Davidson & Co. announced this week that the firm has formally completed its transaction with Crowell, Weedon & Co., a full-service brokerage and money management firm based in Los Angeles and with an office in Santa Barbara.

The combining of the two firms benefits the clients and employees of both companies, expands the footprint of D.A. Davidson’s Individual Investor Group into California and creates the largest independent, full-service broker-dealer based in the Western United States.

“We are excited to have the great team of professionals at Crowell Weedon as our new partners,” said Bill Johnstone, chairman and CEO of Davidson Companies, the parent company to D.A. Davidson. “We see many synergies between our companies that include, first and foremost, a mutual belief that our clients’ needs come first. That philosophy informs all that we do and strengthens our ability to work in tandem on behalf of our clients.”

The transaction marks D.A. Davidson’s largest partnership in the 78-year history of the firm. Crowell Weedon clients are expected to gain access to a broader array of financial services and products, while both companies are expected to benefit from added economies of scale created through the combination. The companies share similar histories and business philosophies.

“We couldn’t be happier with the welcome from D.A. Davidson that already has begun,” said Andrew Crowell, president and CEO of Crowell Weedon. “We are confident that this merger is a win-win situation.”

Crowell Weedon initially will operate as a separate broker-dealer until completion of the two companies’ operational integration, expected to occur over the next six months. After that, Crowell Weedon will be a division of D.A. Davidson and a part of its Individual Investor Group, which provides an array of financial services and investment solutions to individual investors, families, businesses and nonprofit organizations. With Crowell Weedon, the Individual Investor Group will have roughly 460 financial consultants.

The Individual Investor Group is the largest business unit within D.A. Davidson, which also offers equity and fixed income capital markets services and products. Additionally, through D.A. Davidson’s sister companies, clients have access to asset management and trust services.

Crowell Weedon’s leadership will integrate into the D.A. Davidson management structure to ensure continuity for clients, employees and partners. Crowell Weedon’s financial professionals will continue working from their existing Southern California offices, and Andrew Crowell will continue to manage the Crowell Weedon Division and will report to Jim Kerr, president of Davidson Companies. Besides creating benefits of scale, the merger provides clients with access to a deeper inventory of professional services, research, and equity and fixed income capital markets product offerings.

Combining D.A. Davidson and Crowell Weedon represents the next step in the strategic growth of Davidson Companies in California, following the acquisition in 2012 of McGladrey Capital Markets, a boutique investment banking firm based in Costa Mesa. Additionally, Davidson Companies operates an office in Pasadena and earlier this year established a growing presence in San Francisco.

D.A. Davidson is headquartered in Great Falls, Mont., with regional hub offices also in Denver, Portland and Seattle. Crowell Weedon provides the firm with a fifth regional hub in Los Angeles.

Alan Griffin is the Santa Barbara branch manager for Crowell, Weedon & Co.