Eaton Vance Investment Counsel Completes Previously Announced Acquisition of WaterOak Advisors, LLC
Eaton Vance Investment Counsel has finalized its acquisition of WaterOak Advisors, a wealth management firm with $2.3 billion in client assets.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Eaton Vance Investment Counsel has finalized its acquisition of WaterOak Advisors, a wealth management firm with $2.3 billion in client assets. This merger creates Eaton Vance WaterOak Advisors, now managing a total of $11.4 billion in client assets. The acquisition enhances Eaton Vance's capabilities and geographic reach, particularly in the Southeast, by leveraging WaterOak's experienced team. The integration aims to provide high-net-worth families and institutions with tailored wealth management solutions, including investment management and financial planning services.
Positive
- Acquisition increases total client assets to $11.4 billion.
- Enhances service capabilities and geographic reach in the Southeast.
- Combines expertise from WaterOak's experienced team.
Negative
- None.
Details
News Market Reaction – EV
The recorded move for EV in the trading session of this news was +1.07%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
BOSTON, Nov. 2, 2020 /PRNewswire/ -- Eaton Vance Investment Counsel, a wholly owned subsidiary of Eaton Vance Corp. (Eaton Vance) (NYSE: EV), has completed the previously announced acquisition of the assets of WaterOak Advisors, LLC. (WaterOak), a wealth management firm headquartered in Winter Park, Florida with approximately
On a combined basis, Eaton Vance Investment Counsel and WaterOak have
"The mission of Eaton Vance WaterOak Advisors is to provide world-class wealth management and investment services customized to fit the particular circumstances of each client and delivered with a highly personal touch," said David C. McCabe, President. "WaterOak's talented and experienced team, led by principals L. Clarke Lemons, Stephen Curley and Scott Macaione, expands our capabilities and extends our geographic reach to better serve clients in the Southeast."
About Eaton Vance
Eaton Vance provides advanced investment strategies and wealth management solutions to forward-thinking investors around the world. Through principal investment affiliates Eaton Vance Management, Parametric, Atlanta Capital, Calvert and Hexavest, the Company offers a diversity of investment approaches, encompassing bottom-up and top-down fundamental active management, responsible investing, systematic investing and customized implementation of client-specified portfolio exposures. The Company's wealth management affiliate, Eaton Vance WaterOak Advisors, provides customized, high-touch wealth management and investment services to high-net-worth and institutional clients. As of September 30, 2020, Eaton Vance had consolidated assets under management of
View original content:http://www.prnewswire.com/news-releases/eaton-vance-investment-counsel-completes-previously-announced-acquisition-of-wateroak-advisors-llc-301164664.html
SOURCE Eaton Vance Corp.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.