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Financial Planning > Behavioral Finance

BOK Financial Acquires The Milestone Group

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In a further sign the advisor industry is headed for consolidation and “roll-up,” Tulsa-based BOK Financial Corp. announced Monday that it has acquired The Milestone Group, a Denver-based RIA.

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.

BOK Financial already has a 100-year presence in Denver through its local bank brand, Colorado State Bank and Trust. According to the companies, 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 BOK’s 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,” Steve Bradshaw, BOK Financial’s senior executive vice president, said in a statement. “The Milestone Group shares our corporate philosophy of providing clients the highest level of investment services and advice.”

According to BOK, the 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 clients’ 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,” added Eric Koeplin, co-founder and managing director of The Milestone Group.

Frederic Dorwart, Lawyers served as legal counsel to BOK Financial. Sherman and Howard served as legal counsel to The Milestone Group and FBR Capital Markets served as its financial advisor.

Terms of the transaction were not announced.


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