Kalamazoo Wealth Management Firm Arcadia Sold to Massachusetts' F.L. Putnam

*Arcadia Investment Management Corporation, a Kalamazoo-based wealth management firm founded in 1987, has been acquired by F.L. Putnam Investment Management Company*, a Massachusetts-based investment firm. The transaction closed on March 31, 2026, though financial terms were not disclosed.

The acquisition marks F.L. Putnam's first Midwest acquisition and establishes its first physical office location in the region at 161 East Michigan Avenue in Kalamazoo.

Arcadia manages more than $670 million in assets for high-net-worth individuals, families, endowments and foundations. Its six-person team, including four advisors, has joined F.L. Putnam as part of the deal.

"Our partnership with Arcadia is a pivotal moment in FLP's growth," said FLP CEO Tom Manning in a statement. "Gaining a physical presence in the Midwest, a market with tremendous opportunity, led by a seasoned team of investment professionals, strengthens our platform significantly."

The combined organization now serves more than 3,000 clients through 170 employees across 13 offices. F.L. Putnam, headquartered in Lynnfield, Massachusetts, has been serving clients nationally for more than 40 years.

Arcadia's leadership team includes Michael L. Mueller, president; Jerry B. Love, vice president and treasurer; and Dorsey M. Martin, chief compliance officer. All three bring decades of industry experience to the combined firm.

"We are excited to begin this new chapter with Tom and his team," Mueller said. "FLP shares our commitment to client service and investing, and this combination positions us well for continued growth."

Jerry Love added that the partnership offers new services to existing clients while maintaining the firm's service standards.

"We are confident in this partnership and the new services it offers our clients," Love said. "We remain focused on delivering the high standard of service our clients expect, now as part of the FLP family."

Charles J. Ybema, a wealth advisor at Arcadia, also joined F.L. Putnam following the acquisition. The firm's assets under management now surpass $10 billion, according to F.L. Putnam.

The transaction establishes F.L. Putnam's first Midwest location in Kalamazoo, Michigan, and adds senior talent with decades of investment experience to the firm's national platform.

Sources:

  • MLive.com - Kalamazoo wealth management firm gets sold to Massachusetts company
  • F.L. Putnam - F.L. Putnam Expands National Footprint with Acquisition of Michigan-Based Arcadia Investment Management
  • Morningstar - F.L. Putnam Expands National Footprint with Acquisition of Michigan-Based Arcadia Investment Management
  • Private Banker International - FL Putnam buys Michigan RIA Arcadia