SageView Advisory Group says it has acquired a Michigan-based wealth management firm.

The latest acquisition is Bloomfield Hills Financial, a firm founded in 1999 and led by Kevin VanDyke, according to SageView. Bloomfield offers investment, retirement, education, estate and insurance planning, as well as risk management and tax consultation, and oversees $1.8 billion in client assets, SageView says.

The companies didn’t disclose the financial terms of the deal.

The addition of Bloomfield will bring 50 staff to SageView in two locations in Michigan and one each in California, Colorado, Massachusetts and Texas, according to the company.

VanDyke is joining SageView as managing director, the company says.

“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,” VanDyke said in a statement.

Randy Long, SageView founder and managing principal, says that the acquisition of Bloomfield is part of a broader plan to grow SageView’s wealth management business.

This summer, SageView acquired an institutional retirement plan consulting firm with $17 billion in assets under management.

In the first quarter of 2021, Aquiline Capital acquired SageView in a deal that involved $120 billion in assets, according to Echelon.

Do you have a news tip you’d like to share with FA-IQ? Email us at editorial@financialadvisoriq.com.