Corient, a Miami-based wealth management firm, on Wednesday announced that it had agreed to acquire Capital Advisors.
Capital Advisors is a Tulsa, Oklahoma-based RIA with an eight-state presence, 47 financial professionals and about $7.8 billion in client assets. The employee-owned firm, founded in 1978, is led by Keith Goddard, CEO, and Andy Brown, president.
Capital Advisors' principals will become Corient partners upon closing, expected later this quarter, according to a statement.
Corient operates as a fiduciary, fee-only wealth management firm under a private partnership model. Since its founding in 2020, Corient has grown to include more than 250 partners and over 1,400 employees managing about $222 billion, as of March 31.
Corient's partnership model fosters collaboration, bringing together local expertise and global resources backed by scale, a spokesperson told ThinkAdvisor.
"As a result, our teams are empowered to seamlessly deliver the full strength of the firm to even the most complex clients wherever they work and live. And when you become a client, you are a client of the full firm — backed by the power of our partnership," the spokesperson said. "Most wealth firms operate with structural conflicts that can erode the client experience — creating barriers to delivering client-first outcomes. At Corient, our partnership model was designed to mitigate these conflicts and foster true collaboration."
Last month, Corient acquired Vivaldi Capital Management, a Chicago-based RIA with $5.6 billion in assets under management.
Corient has previously announced agreements to acquire three leading European wealth management firms: Stonehage Fleming, Stanhope Capital Group and the Bedrock Group. Upon closing and subject to regulatory approval of these and other transactions, Corient will have combined client assets of about $470 billion.
Piper Sandler & Co. is serving as the exclusive financial advisor to Capital Advisors.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.