LWBJ Financial announced today that it has sold LWBJ Pension Consultants to Finway Group, a new West Des Moines-based company that was formed by former LWBJ Pension Consultants employees.

“Part of our plan is to really focus tightly on our high-gross and high-margin areas and this was one that we felt wasn’t really part of our long-term strategy,” said Jeff Bartling, CEO of LWBJ. “It allows us to focus on our high-growth areas.”

No employee layoffs will occur during the transition, and a majority of the clients who worked through the Pension Consultants division of LWBJ will transfer to the Finway Group, Bartling said. “The opportunity to spin off the Pension Consultants unit to employees who already have a solid relationship with our clients will make the transition seamless.”

LWBJ started the Pension Consultants division almost 10 years ago and within the last month has made the transition to sell to Finway Group. Bartling said he won’t have any involvement with the Finway Group other than the joint clients that each company works with separately.

LWBJ Financial is a financial services firm that serves the needs of companies, families and individuals. The firm offers traditional CPA services, business consulting, financial strategies and capital solutions, benefits and executive compensation consulting, comprehensive wealth planning and various proprietary financial products through three divisions: CPAs and Business Advisors, Premier Wealth and Capital Advisors.