Oklahoma-based independent RIA Exencial Wealth Advisors has completed its previously announced acquisition of Willingdon Wealth Management.
As an independent RIA firm, Willingdon Wealth Management offered investment management and financial planning services to individuals, families and business owners.
The deal, which was announced in April, bolsters Exencial’s service in several areas including customised investment management, holistic financial planning and trustee services among others.
It also brings assets of $800m to Exencial and adds 15 new employees, including five CFA charterholders, to its workforce.
Exencial CEO John Burns said: “We look forward to entering this next phase of the firm’s growth with the addition of Willingdon’s deep investment expertise and talent.
“More importantly, the team further supports Exencial’s guiding principles, including a dedication to collaboration, transparency and superior client service.
“We are confident this partnership will only enhance our client experience and ensure the continuity of our business for years to come.”
As earlier agreed, Willingdon founder and president Mike Kayes assumed the new role of managing director of Exencial. He will also serve as a member of both the executive leadership and investment teams.
In the deal, Republic Capital Group advised Exencial Wealth Advisors, while InCap Group served as the advisor of Willingdon Wealth Management.