BOK Financial Corp. is looking to grow its wealth management business in Texas.

The regional financial services company on Tuesday announced that it is acquiring Weaver Wealth Management, an RIA owned by Texas-based accounting firm, Weaver and Tidwell.

In addition to expanding the company's wealth management reach in Texas, the acquisition is expected to increase BOK's assets under management by about $340 million. It will also gain "an experienced team with a solid client base of executives and families receiving investment management and wealth management services," BOK said.

As part of the deal, Weaver Wealth Management will become part of BOK's subsidiary, the Milestone Group, which focuses on providing investment management and financial planning services to ultrahigh-net-worth customers.

Financial terms of the deal were not disclosed.

"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," Scott Grauer, BOK's executive vice president of wealth management, said in a statement.

David Sego, managing director for Weaver Wealth Management, will maintain his leadership role and report directly 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, the company 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," John Mackel, managing partners and CEO of Weaver and Tidwell, said in a statement.

The transaction is expected to close in the first quarter of 2016, pending regulatory approval.

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