US-based BOK Financial has signed an asset purchase agreement to acquire Weaver Wealth Management, which is owned by the accounting firm Weaver and Tidwell.

Under the deal, Weaver Wealth’s professional team and will transition to The Milestone Group, BOK’s wealth management division that focuses on providing investment management and strategic financial planning services to UHNW customers.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The latest acquisition is expected to boost BOK Financial’s assets under management (AUM) and administration by $340m and will expand its wealth management reach in Texas.

The deal is scheduled to close in the first quarter of 2016, subject to regulatory approval. Terms of the agreement have not been revealed.

Under the arrangements, Weaver Wealth Management MD David Sego will continue to remain in his role and will report to Eric Koeplin, president of The Milestone Group.

BOK Financial wealth management executive VP Scott Grauer said: "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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

"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."

Weaver and Tidwell managing partner and CEO John Mackel said:"Paramount in our decision were the outstanding reputations of BOK Financial and The Milestone Group, as well as their commitment to delivering the highest level of service to our clients."

"Wealth management is the core service area for The Milestone Group. The expertise and first-class-client-service commitments of both teams make this deal a great fit. We’re confident that our clients and our team members will be well taken care of, which was our top priority in this transaction."