Denver-based company adds $1.3 billion in assets under management
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
BOK Financial Corporation
Sheila A. Curley, APR
Corporate
Communications
918-588-6532 (office)
918-830-3268 (cell)
Source: BOK Financial Corporation