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Thomas K. Thornton is one of those lucky guys that managed to turn a side passion into a successful, life-long career.
Born and raised in Haverhill, Thornton followed his father into the real estate and insurance businesses after graduating from Haverhill High School in the class of 1961. He attended Northern Essex Community College and earned a bachelor’s degree in business from Sawyer Business School at Suffolk University in Boston. While working with his father, he served as president of the Haverhill Board of Realtors and was voted Realtor of the Year.
But another career beckoned. Following several successful years in real estate, he tried his hand at financial services.
Thornton, 83, retired two years ago after spending 60 years in financial services, first as a banking executive and then as a trusted investment advisor.
“It all started, I guess, as a hobby of mine when I was in the real estate business with my father. When I entered into the banking world, I used to handle the investments for the banks I worked for,” Thornton recalled.
He began his banking career at Haverhill Bank, then known as the Haverhill Co-Operative Bank. He went on to become vice president of lending at Exeter Co-operative Bank in Exeter, N.H., which became First Savings & Loan of N.H. He then was drafted to be the chief executive officer and treasurer of the Glendale Cooperative in Everett, and later executive vice president and then CEO and president of Plaistow Co-operative Bank, in Plaistow, N.H. Along the way he served as president of the New Hampshire League of Savings and Loans.
Wall Street and the stock market continued to intrigue him and when a fellow member of Kiwanis suggested he consider opening his own investment firm through Edward Jones, he jumped at the chance. Thornton Investment Services was born in downtown Haverhill.
Thornton said, ironically, his first job at Sears, Roebuck & Co. when he was teenager taught him how to sell directly to consumers so he wasn’t afraid of trying something new and starting from scratch. While Edward Jones proved to be a good training ground for a new investment advisor, at the right moment he decided to ally Thornton Investment Services with LPL Financial, the company that served as his broker/dealer.
Along the way, he married and he and his wife, Gail, raised two children, Brennan and Kathryn.
While his business was booming, he realized that as a solo practitioner, he needed to think about a succession plan.
“I realized that, you know, I’ve got to think about retirement some day and I need to find someone who I respect and who I would feel comfortable with taking over my book of business,” Thornton said.
He said he made one unsuccessful stab at finding a partner, but continued his search. A chance conversation with Paul A. LaGreca Jr., a colleague who also used LPL Financial, convinced him he found a partner he could trust.
“So, it became just extremely convenient. He came in, worked with me for a while so I could learn their software and we could develop a rapport together. He was of the style very much like my own that never really took advantage of a client’s situations or pushing products on clients,” Thornton said.
LaGreca Wealth Management operates from 191 Merrimack St., Suite 406, Haverhill.
Thornton and his wife moved to Hampton, N.H., several years ago, but Thornton manages to keep up his Haverhill connections. He has been a member of the Kiwanis Club of Haverhill for more than 50 years and served as its president. He is also a member of the Haverhill Lodge of Elks and member and past director of the Greater Haverhill Chamber of Commerce, which named Thornton Investment Services “Business of the Month” twice. He is currently serving on the endowment committee of the Boys & Girls Club of Greater Haverhill, a busy role as the nonprofit prepares to launch a capital campaign to build a larger, more modern facility.
Thornton still comes into the office a few times a month to visit with LaGreca and chat with him about his former clients.