Exencial Wealth Advisors, a $2.1 billion wealth management firm based in Oklahoma City, announced that it has an agreement to acquire Willingdon Wealth Management of Charlotte, N.C., according to a news release.
The deal, which is expected to close on June 1, would add $800 million in assets to Exencial’s book and deepen its talent pool with 16 new employees, including five financial advisors, the release said.
The release said Willingdon, which also has satellite offices in Stamford, Conn.; Youngstown, Ohio; and San Diego, specializes in investment management and develops personalized investment portfolios for its clients. The firm also provides a wide range of other services, including holistic financial planning, estate planning, trustee services and guidance on charitable giving.
Mike Kayes, the founder and president of Willingdon, will serve as a managing director for Exencial and remain a member of both the executive leadership and investment teams. He said Exencial’s commitment to exceptional service and integrity mirrors Willingdon’s. “Further, there is no doubt this partnership will enhance our value proposition. Exencial’s tax planning capabilities in particular will greatly benefit our clients,” Kayes said in a statement.
John Burns, CEO of Exencial, said Kayes and his team have done an excellent job at grooming the next generation of leaders in their firm. “Succession is something we are committed to at Exencial to ensure the growth and continuity of our services for our clients and their families,” he said.
Exencial Wealth also has offices in Old Lyme, Conn., and Frisco, Texas.