Corient has agreed to purchase Capital Advisors, a Tulsa, Oklahoma-based RIA overseeing $7.8bn in assets.
Founded in 1978, Capital Advisors is employee-owned and is headed by chief executive Keith Goddard and president Andy Brown
Capital Advisors offers tailored financial planning, investment oversight and other wealth management services to families and institutions, with 47 financial professionals. In addition to Oklahoma, it has a presence in Texas and six other states. Goddard said: “Corient’s private partnership model was the key factor in our decision to join the firm, as it reflects the values that drive Capital Advisors – integrity, teamwork, and dedication to our clients. “Corient allows us to enhance the client experience by gaining access to a broad network of expertise and a wide range of wealth management and family office services, including alternative investments, trust strategies, tax preparation and bill paying.” Capital Advisors’ principals are set to become Corient partners when the transaction completes, which is anticipated later this quarter.
Corient CEO and founding partner Kurt MacAlpine commented: “The addition of Capital Advisors gives Corient our first office in Oklahoma and significantly expands our client base across the South and Southwest. “The firm has an exceptional reputation as a premier wealth manager and their holistic approach fully aligns with Corient’s commitment to providing comprehensive, personalized service. Keith and his team will be a tremendous addition to the Corient partnership.” Last month, Corient agreed to acquire Bedrock Group, a European wealth manager and multi-family office with offices in Geneva, London, Monaco and Lisbon. Corient has also announced deals for three European wealth management businesses: Stonehage Fleming, Stanhope Capital Group and Bedrock Group.