Cetera Financial Group Facilitates Acquisition of Thomson Financial Management by Bloomfield Hills Financial
Cetera’s Funding and Strategic Guidance Enables Purchase of Independent Practice with Approximately $105 Million in Client Assets by Kevin VanDyke of Bloomfield Hills Financial, a Leading First Allied Securities Independent Practice
Thomson Financial Clients to be Served by Top Millennial Advisor Nicholas Cantrell, Facilitating Succession Plan for Founding Advisor Eva Thomson
Los Angeles, CA – Cetera Financial Group® ("Cetera" or "the Company")*, a leading network of independent firms supporting the delivery of professional financial advice, and Cetera network firm First Allied Securities today announced the completion of the acquisition of Thomson Financial Management by Bloomfield Hills Financial in a succession planning-driven transaction facilitated and funded by Cetera. Based in Northampton, Massachusetts, Thomson Financial Management has approximately $105 million in advisory and brokerage assets. Bloomfield Hills Financial is an independent financial planning and wealth management advisory firm offering securities brokerage and investment advisory services through First Allied and based in Bloomfield Hills, Michigan.First Allied advisors affiliated with Bloomfield Hills Financial have approximately $1.5 billion in advisory and brokerage assets as of December 31, 2017.
Richard Whitworth, Managing Director, Business Consulting for Cetera Financial Group, said, “We are delighted to have supported Bloomfield Hills Financial in its acquisition of Thomson Financial Management through our dedicated succession planning capabilities. With their unwavering commitment to providing service that goes above and beyond, Kevin VanDyke and his team epitomize Cetera’s effort to deliver the Advice-Centric ExperienceTM model for advisors and clients, placing personalized advice ahead of products and quota-based sales. 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. We’re confident that more outstanding advisors such as Eva Thomson will continue to find strong succession-planning transaction partners across the Cetera advisor community in the years ahead.”
Founded in 1999 by Kevin VanDyke, who continues to lead the firm as its President, Bloomfield Hills Financial specializes in customized investment management and asset allocation, retirement planning, insurance, education planning, and estate planning for retirees and pre-retirees. The firm has successfully and continuously grown both organically and through strategic acquisitions, and now has locations in Arizona, California, Colorado, Texas and Massachusetts, in addition to three offices in Michigan.
Thomson Financial Management seeks to build and protect clients' wealth by implementing effective investment options, and draws on industry-leading technology, analytics and personal knowledge to engineer effective financial pathways to the future for its clients. Ms. Thomson was drawn to Bloomfield Hills Financial as a succession-driven transaction partner by its track record of exceptional client service; the leadership and experience of Mr. Cantrell and the Bloomfield Hills team; and the industry-leading platform and resources Cetera is developing in support of its vision of an Advice-Centric Experience model for clients and advisors. Going forward, Thomson Financial’s Northampton, Massachusetts office will continue to operate under the Thomson Financial Management brand.
In a related move, Bloomfield Hills Financial has also successfully recruited top millennial advisor Nicholas Cantrell to lead its new Massachusetts location, ensuring continued top-tier service and a seamless transition for Thomson Financial Management’s clients. Mr. Cantrell was named one of America’s Top Millennial Advisors for 2017 by Forbes Magazine. The transaction and the strong team it leaves in place will enable Thomson Financial founder Eva Thomson to pursue her personal succession planning goals, as she intends to transition into retirement over the course of the next 12 to 24 months.
Kevin VanDyke, President and Founder of Bloomfield Hills Financial, said, “We’re thrilled to have the opportunity to serve Thomson Financial Management’s clients going forward, and to announce that Nicholas Cantrell will be spearheading the growth of our new Massachusetts office. Eva Thomson has built an outstanding practice based on personalized attention and service to each one of her clients, and we’re honored to be chosen by her out of dozens of prospective transaction partners to continue the traditions and legacy of her practice. Throughout this process, we have been grateful for the support, resources and partnership of First Allied Securities and Cetera Financial Group, which played a key role in helping us complete this transaction.”
Nicholas Cantrell, Senior Vice President and Wealth Advisor of Bloomfield Hills Financial, said, “I’m very excited to join Bloomfield Hills Financial as the head of its new Northampton, Massachusetts location. I look forward to bringing the same commitment to world-class client service I have maintained throughout my career to Bloomfield Hills in order to ensure that every Thomson Financial Management client continues to receive the same level of personalized care they have come to expect and deserve. Leveraging the industry-leading scale and tools of Cetera Financial Group and First Allied Securities, alongside the proven capabilities and client service focus of the Bloomfield Hills team, I am confident that we are poised for continued growth in Massachusetts and across the country.”
About Cetera Financial Group®
Cetera Financial Group ("Cetera") is a leading network of independent firms empowering the delivery of professional financial advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions. Cetera 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.
Through its multiple distinct firms, Cetera offers independent and institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations. Advisor support resources offered through Cetera include award-winning wealth management and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology. For more information, visit cetera.com.
* "Cetera Financial Group" refers to the network of independent retail firms encompassing, among others, Cetera Advisors, Cetera Advisor Networks, Cetera Investment Services (marketed as Cetera Financial Institutions), Cetera Financial Specialists, First Allied Securities and Summit Brokerage Services. All firms are members FINRA/SIPC.
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