Home Alts News First Allied Affiliate Acquires $105 Million Massachusetts Advisory Firm

First Allied Affiliate Acquires $105 Million Massachusetts Advisory Firm

Bloomfield Hills Financial, an independent financial planning and wealth management advisory affiliate of First Allied Securities with $1.5 billion in client assets, has acquired Thomson Financial Management.

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Bloomfield Hills Financial, an independent financial planning and wealth management advisory affiliate of First Allied Securities with $1.5 billion in client assets, has acquired Thomson Financial Management, a Northampton, Massachusetts-based firm with approximately $105 million in advisory and brokerage assets.

First Allied Securities is an independent broker-dealer and member of the Cetera Financial Group, which facilitated and funded the transaction.

“We are delighted to have supported Bloomfield Hills Financial in its acquisition of Thomson Financial Management,” said Richard Whitworth, Cetera’s managing director of business consulting. “Cetera is pleased to make significant funding and strategic resources available to our advisors as they seek to build their businesses organically and through acquisitions of like-minded firms.”

Bloomfield Hills Financial was founded in 1999 by company president Kevin VanDyke and specializes in customized investment management and asset allocation, retirement planning, insurance, education planning, and estate planning for retirees and pre-retirees.

The firm is based in Bloomfield Hills, Michigan, with locations in Arizona, California, Colorado, Texas and Massachusetts, in addition to its three Michigan offices.

Going forward, Thomson Financial’s Northampton, Massachusetts office will continue to operate under the Thomson Financial Management brand. The company’s founder, Eva Thomson, plans to transition into retirement over the next 12 to 24 months.

In a related move, Bloomfield Hills Financial has recruited advisor Nicholas Cantrell to lead its new Massachusetts location. Cantrell was named one of America’s top millennial advisors for 2017 by Forbes Magazine.

Cetera Financial Group is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading provider of retail services to the investment programs of banks and credit unions. The broker-dealer network is comprised of Cetera Advisors, First Allied Securities, Brokerage Services, Cetera Advisor Networks, Cetera Financial Institutions, and Cetera Financial Specialists.

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