MISSISAUGA, Ont. - Knowledge First Financial has acquired Heritage Education Funds to create a 1,600-member sales force for registered education savings plans, a type of Canadian tax shelter.

Together they have a total of $6.2 billion in assets under management.

The combined business will operate under the name Knowledge First Financial Inc., with George Hopkinson continuing as president and CEO. The current CEO of Heritage, Jason Maguire, will join Knowledge First as managing director.

They didn't announce financial terms of their transaction, which closed Tuesday.