Young & Associates Inc., a Kent financial consulting firm specializing in community financial institutions, has been sold by Gary J. Young, the company’s founder, to Jerry Sutherin, a senior consultant with the firm.

Sutherin took over as president and chief executive upon the Jan. 31 sale, the firm said in a news release. Young, who established the company in 1978, will remain actively involved with the firm for one year.

“I look forward to making a seamless transition at Young & Associates, building upon the solid foundation that Gary has built over the past 40 years,” Sutherin said. “It is my goal that our clients and employees will continue to receive the same professional, high-quality experience that they have come to expect here over the years.”