The Association for Advanced Life Underwriting and GAMA International announced Monday they are merging to form a new organization to represent the entire financial security profession.

The new organization—which has yet to be named—will debut no later than June 2020 and will have more than 8,000 members.

"When you look across distribution, there is far more that unites the profession than divides it," AALU CEO Marc Cadin said in a statement. "We intend for this to be the start of a unifying effort that will bring together the entire profession so that we can more effectively address its biggest challenges."

AALU is a $12 million-revenue association representing financial professionals who provide life insurance and retirement planning solutions for individuals, families and businesses. GAMA is a $5.1 million-revenue group providing professional development services for individuals in the insurance, investment and financial services industry. Cadin will become CEO of the merged organization with current GAMA CEO Bonnie Godsman becoming president.

"The opportunity to come together will accelerate our ability to drive growth and greater value for our members," Godsman said in a statement. "With AALU's advocacy strengths empowering more people to get involved and GAMA's leadership programs, the opportunities will be endless."

The Falls Church, Va.-based GAMA reported 21 staff on its most recent tax records. AALU, which is based in Reston, Va., reported 35 staff. The groups did not immediately say what the merger would mean for the staffs of either association.