Eaton Vance Investment Counsel has completed its acquisition of the assets of WaterOak Advisors, a $2.3 billion wealth management firm in Winter Park, Fla., according to according to a news release.

The firm, which operates as Eaton Vance WaterOak Advisors, has a combined $11.4 billion of client assets under advisement. It continues to provide high-net-worth families and institutions with access to sophisticated wealth management and investment solutions – including financial, estate and tax planning, investment management, and family office and trust services, the release said.

“The mission of Eaton Vance WaterOak Advisors is to provide world-class wealth management and investment services customized to fit the particular circumstances of each client and delivered with a highly personal touch,” David C. McCabe, president, said in a statement. He added that the WaterOak's team, led by principals L. Clarke Lemons, Stephen Curley and Scott Macaione, expands the firm’s capabilities and extends its geographic reach to better serve clients in the Southeast.

Eaton Vance WaterOak Advisors is the wealth management affiliate of Boston-based Eaton Vance, which provides advanced investment strategies and wealth management solutions to investors around the world. The company was purchased by Morgan Stanley last month in a $7 billion deal. As of September 30, 2020, it had consolidated assets under management of $517.0 billion.