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July 2, 2020

Eaton Vance Investment Counsel to buy assets of WaterOak Advisors

Eaton Vance Investment Counsel (EVIC), part of Eaton Vance, has agreed to acquire the assets of Florida-based wealth management firm WaterOak Advisors.

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How attractive are current investment opportunities in Europe?

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Financial details of the deal have not been made public.

As part of the deal, WaterOak principals Clarke Lemons, Stephen Curley and Scott Macaione along with their team will join EVIC.

Founded in 2006, WaterOak Advisors has nearly $2bn of client assets under management (AUM).

The firm creates customised wealth advisory strategies for individuals, families and institutions.

WaterOak president Clarke Lemons said: “For over a decade, WaterOak has focused on partnering with our clients to help them meet their long-term investment objectives, while balancing risk and controlling costs and taxes.

“We enter this partnership with great excitement and look forward to expanding our offerings to include Eaton Vance’s distinctive array of wealth management solutions.”

EVIC provides investment management, financial, estate and tax planning, family office and trust services to HNW families and institutions.

As of April-end this year, the firm served as the adviser for $8.2bn in assets on behalf of families, endowments, foundations and other institutions.

EVIC president David McCabe said: “Eaton Vance and WaterOak share a focus on customised client service and a commitment to long-term relationships, based on comprehensive wealth management with integrity.”

Eaton Vance chairman and CEO Thomas Faust added: “We see the proposed acquisition of WaterOak as supporting one of Eaton Vance’s most important strategic priorities: strengthening our position in private wealth management.

“Combining with WaterOak offers the potential to develop a much larger business serving high-net-worth individuals and families in Florida and throughout the Southeast.”

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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