Worcester-based Archstone Financial is expanding outside Massachusetts for the first time, by acquiring Vermont-based GateHouse Financial Advisors.
GateHouse will operate under the Archstone name, the company announced Monday. Terms of the transaction were not disclosed.
Shared values and similar approaches to client relationships were the driving factors behind the merger, said Mark McCormack, managing partner and financial planner at Archstone.
GateHouse was founded in Manchester, Vermont by David Gates and Stephen Houseman in 1999, according to Vermont business records.
Archstone was founded in 2015 and employs nine people, according to its website. The firm provides guidance on business planning, retirement plans, insurance, succession planning, and exit strategies for business owners.
In addition to its Worcester headquarters at 324 Grove St., Archstone has an office at 975 Merriam Ave. in Leominster.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the real estate and banking & finance industries.Â
