Effective Sept. 30, SageView Advisory Group has acquired Michigan-based Bloomfield Hills Financial, adding $1.8 billion in assets under management.
Bloomfield Hills Financial focuses on full-service financial planning for clients, including investment, retirement, education, estate and insurance planning, along with risk management and tax consultation. The firm is led by Kevin VanDyke, who joins SageView as a Managing Director. According to a press release, the acquisition brings 50 new team members to SageView in six locations, including two in Michigan and one each in California, Colorado, Massachusetts and Texas.
“Since starting Bloomfield Hills Financial 22 years ago, we’ve offered a unique client experience for all of our clients, said VanDyke. “We believe that success is a result of prudent, objective planning, discipline and honesty and doing all we can to help our clients meet both their long- and short-term financial goals. I am extremely proud of everything we have built over the years and in looking to the future, we wanted to join a firm that would allow us to continue to provide the highest level of client service and advice our clients expect. Through their nationwide footprint and extensive team of experienced investment professionals, SageView offers our firm the depth of scale to fully meet the needs of our clients and further expand our practice.”
Randy Long, SageView Founder and Managing Principal, added, “Growing our wealth management business is a key focus for us over the next few years. The acquisition of Bloomfield Hills Financial represents an exciting, strategic expansion of our wealth management offering both in the upper Midwest and nationwide. They have an excellent reputation and business model as well as a great team of advisors and associates around the country. We look forward to working together.”
Gladstone Associates served as exclusive financial advisor to Bloomfield Hills Financial in the transaction.
