TULSA, Okla.--(BUSINESS WIRE)--BOK Financial Corporation announced today it has acquired The Milestone Group, Inc., a Denver-based Registered Investment Adviser.
Founded in 1996, The Milestone Group provides wealth management services to approximately 250 high net worth clients located primarily in Colorado and Nebraska. The employee-owned firm manages $1.3 billion in equity and fixed income investments and was recently identified among the top two percent of high net worth advisors in the country by Investment News, a leading news and analysis resource to the financial adviser community.
BOK Financial has a 100-year presence in Denver through its local bank brand, Colorado State Bank and Trust. Adding The Milestone Group’s wealth management brand and expertise enhances BOK Financial’s presence in Denver and surrounding areas. With the acquisition of The Milestone Group, assets under management and administration by its various subsidiaries will total nearly $50 billion.
“BOK Financial is actively pursuing acquisitions that allow us to continue our growth trajectory, while delivering a comprehensive investment suite to our clients,” said Steve Bradshaw, BOK Financial’s senior executive vice president. “The Milestone Group shares our corporate philosophy of providing clients the highest level of investment services and advice.”
This acquisition allows The Milestone Group to broaden its scope and reach, while maintaining its commitment to independent thinking and discipline when making investment decisions for its clients. The firm’s founders, advisors and relationship teams will remain intact.
“We are known for acting in our client’s best interests and providing exceptional customer service. Aligning with BOK Financial ensures our firm will continue providing unbiased and sophisticated advice to our growing client base,” said Eric Koeplin, co-founder and managing director of The Milestone Group.
“This partnership preserves our team and boutique service model, yet adds the strength and resources of a stable, 100-year old firm,” adds Robert Adams, fellow co-founder and managing director of The Milestone Group. “Our customers will be comforted by this win-win development, which ensures their needs can be addressed for generations to come.”
Frederic Dorwart, Lawyers served as legal counsel to BOK Financial. Sherman and Howard L.L.C. served as legal counsel to The Milestone Group and FBR Capital Markets served as its financial advisor. Terms of the transaction were not announced.
Editor’s Note:
About BOK Financial Corporation
BOK Financial Corporation is a $26 billion regional financial services company based in Tulsa, Okla. The company's stock is publicly traded on NASDAQ under the Global Select market listings (symbol: BOKF). BOK Financial's holdings include BOKF, NA, BOSC, Inc. and Cavanal Hill Investment Management, Inc. BOKF, NA operates the TransFund electronic funds network and seven banking divisions: Bank of Albuquerque, Bank of Arizona, Bank of Arkansas, Bank of Kansas City, Bank of Oklahoma, Bank of Texas, and Colorado State Bank and Trust. Through its subsidiaries, the company provides commercial and consumer banking, investment and trust services, mortgage origination and servicing, and an electronic funds transfer network. For more information, visit www.bokf.com.
About The Milestone Group
Founded in 1996, by Eric Koeplin and Robert Adams, The Milestone Group is a privately-held wealth management group based in Denver, Co. The firm counts families, CEOs, CFOs, entrepreneurs and other senior executives of major corporations as part of its exclusive clientele. The Milestone Group has approximately $1.3 billion of assets under management. For more information, including Investment News ranking disclosures, visit www.themilestonegroup.com