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Berkshire Global Advisors acted as financial advisor to WaterOak Advisors, LLC.
  • has been acquired by
  • Berkshire Global Advisors acted as financial advisor to WaterOak Advisors, LLC.

  • Date: July 2020
  • Sector: Wealth Management
  • Region: North America
  • Seller AUM: $2 Billion
  • Seller Details:
    WaterOak Advisors, LLC. is a wealth management firm headquartered in Winter Park, Florida with approximately $2 billion of client assets under management. Founded in 2006 by Mr. Lemons, WaterOak develops and implements customized wealth advisory strategies for individuals, families and institutions, and guides clients toward thoughtful decisions regarding their overall financial situations. WaterOak has earned a reputation as a leading provider of fiduciary wealth management services in Florida.

    Buyer Details:
    Eaton Vance Corp. provides advanced investment strategies and wealth management solutions to forward-thinking investors around the world. Through investment affiliates Eaton Vance Management, Eaton Vance Investment Counsel, 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. As of April 30, 2020, Eaton Vance had consolidated assets under management of $465.3 billion. Of these assets, $8.2 billion were advised through the firm’s high-net-worth wealth management arm, Eaton Vance Investment Counsel.

    Transaction Summary:
    Transaction combines two firms with a shared focus on customized client service and commitment to long-term relationships, with a vision of creating a comprehensive platform of wealth solutions, including tax-aware investment management, risk management and financial planning strategies, for sophisticated investors.

    Acquisition supports Eaton Vance’s key strategic priority of strengthening its position in private wealth management, while simultaneously expanding its geographic presence by opening access into the high-net-worth client space in Florida (and the Southeast more broadly) through WaterOak’s local relationships.

    Partnership with Eaton Vance provides WaterOak with strong institutional backing and resources, as well as access to an expanded array of client service offerings.