BOK Financial Acquires Weaver Wealth Management

The transaction for the boutique firm adds $340 million in Assets Under Management.

BOK Financial Corp has entered into an asset purchase agreement with Weaver and Tidwell Financial Advisors to buy boutique investment firm Weaver Wealth Management.

The agreement includes hiring Weaver Wealth Managements team and transitioning its wealth management clients to The Milestone Group, a subsidiary of BOK Financial. The deal is expected to be completed in the first quarter of 2016.

Weaver Wealth Management is owned by the Texas-based accounting firm, Weaver and Tidwell LLP. This acquisition will increase BOK Financials assets under management and administration by approximately $340 million and expand the companys wealth management reach in Texas.

The addition of Weaver Wealth Management will allow BOK Financial to further serve our clients financial needs in one of the most attractive growth markets we serve, said Scott Grauer, executive vice president, wealth management at BOK Financial. Weaver Wealth Management clients will benefit from a broad set of products and services that come with the backing of a $31 billion company like BOK Financial. We benefit by adding the talent and expertise of their team and accelerating the growth opportunities of our business in Texas.

Managing director for Weaver Wealth Management, David Sego, will maintain his leadership role and report to Eric Koeplin, president of The Milestone Group. Existing Weaver Wealth Management clients will continue to be served by their same team of advisors and support personnel.

BOK Financial is a $31 billion financial services company headquartered in Tulsa, Okla. with $67 billion in assets under management and administration. The Milestone Group operates as a wholly-owned subsidiary of BOK Financial and has $1.8 billion in assets under management. The Denver-based boutique wealth management firm was founded in 1996 and its clients include high and ultra high net worth families and executives.