The assets of Weaver Wealth Management, a Dallas-based registered investment advisor, have been purchased by BOK Financial Corporation, BOK announced Tuesday.
Weaver Wealth will join The Milestone Group, a subsidiary of BOK that focuses on providing investment management and financial planning for ultra-high-net-worth clients.
The professional team from Weaver Wealth Management, which has $340 million in AUM, will join Milestone. Terms of the agreement, which is expected to be completed in the first quarter of this year, have not been revealed. The move expands BOK Financial’s presence in Texas.
“The addition of Weaver Wealth Management will allow BOK Financial to further serve our clients’ financial needs in one of the most attractive growth markets we serve,” says Scott Grauer, executive vice president, wealth management at BOK Financial. The Milestone Group has $1.8 billion in AUM.
Managing director for Weaver Wealth Management, David Sego, will maintain his leadership role at Milestone and existing Weaver clients will continue to be served by their same team of advisors and support personnel. BOK is a $31 billion firm that operates as the Bank of Texas with offices throughout the state.