BOK Financial Corp. has acquired The Milestone Group, a Denver registered investment advisor. The acquisition enhances BOK's presence in Denver and brings its assets under management and administration across all its subsidiaries to nearly $50 billion, the company said in a statement.
BOK has maintained a presence in Denver through its local bank brand, Colorado State Bank and Trust, a 100-year-old company. The acquisition will strengthen the Colorado bank's wealth management business.
Milestone provides wealth management services to approximately 250 high-net-worth clients located primarily in Colorado and Nebraska. It manages $1.3 billion in equity and fixed income investments, BOK said.
"BOK Financial is actively pursuing acquisitions that allow us to continue our growth trajectory, while delivering a comprehensive investment suite to our clients," Steve Bradshaw, BOK's senior executive vice president, said in a statement.
Milestone will "maintain its commitment to independent thinking and discipline when making investment decisions for its clients," BOK Financial said. The firm's founders, advisors and relationship teams will remain intact.
"This partnership preserves our team and boutique service model, yet adds the strength and resources of a stable, 100-year-old firm," Robert Adams, Milestone's co-founder and managing director, said in a statement.
BOK is a $26 billion regional financial services company based in Tulsa, Okla. In addition to the Colorado State Bank and Trust, BOK operates the following banking divisions: Bank of Albuquerque, Bank of Arizona, Bank of Arkansas, Bank of Kansas City, Bank of Oklahoma, and Bank of Texas.
Register or login for access to this item and much more
All Bank Investment Consultant content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access