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Eaton Vance Investment to Acquire Assets of WaterOak Advisors to Strengthen Position in Florida
Tuesday 07 July 2020

US wealth services company Eaton Vance Investment Counsel has agreed to acquire the assets of Florida-based wealth management firm WaterOak Advisors, LLC to bolster wealth management services capabilities in Florida, the company said.

The terms of the transaction are not being disclosed. Completion of the transaction is contingent upon certain closing conditions.

Eaton Vance Investment Counsel provides comprehensive wealth services to help high-net-worth families and institutions maintain financial security over the long term. Bringing together the scale of a boutique wealth advisor and the resources of a global asset manager, Eaton Vance Investment Counsel helps clients access sophisticated strategies including investment management, financial, estate and tax planning, family office and trust services to prudently preserve and grow their wealth.

As of April 30, 2020, Eaton Vance Investment Counsel acted as advisor for USD 8.2bn in assets on behalf of families, endowments, foundations and other institutions.

Combining with WaterOak offers the potential to develop a much larger business serving high-net-worth individuals and families in Florida and throughout the Southeast.

Eaton Vance Investment Counsel is a wholly owned subsidiary of Eaton Vance Corp. (NYSE: EV). Eaton Vance Corp. provides advanced investment strategies and wealth management solutions to investors around the world.

WaterOak develops and implements customised wealth advisory strategies for individuals, families and institutions, and guides clients toward thoughtful decisions regarding their overall financial situations. WaterOak has approximately USD 2bn of client assets under management.
Date Published: 07/07/2020