Bloomfield Hills Financial has announced that it is purchasing Thomson Financial Management, a Northampton, Mass.-based advisor with $105 million in assets.
The acquisition is related to a succession event. Thomson Financial founder Eva Thomson will transition to retirement over the next year, and financial advisor Nicholas Cantrell will take the lead of Bloomfield Hills’ Northampton, Mass. location.
Based in Bloomfield Hills, Mich and with $1.5 billion in AUM, Bloomfield Hills Financial is affiliated with First Allied Securities, a Cetera Financial Group network member firm. Cetera provided funding and other resources to support the transaction.
Additional details of the transaction were not disclosed.