BOK Financial buys Kansas wealth-management firm

BOK Financial Corp. said it will acquire Topeka, Kan.-based Gtrust Financial Corp. to add to its growing wealth management division. Terms of the deal were not disclosed.
by Paul Monies Published: October 3, 2013
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— BOK Financial Corp. has added a Kansas wealth-management firm to its private banking group, the company's first acquisition of a fee-only financial planner.

BOK Financial, parent of Bank of Oklahoma, said Wednesday it had reached an agreement to acquire Topeka, Kan.-based Gtrust Financial Corp., which specializes in trust and asset management services.

Terms of the deal were not disclosed. The transaction is expected to close before the end of the year and is subject to regulatory approval.

Steve Bradshaw, senior executive vice president for BOK Financial, said wealth management is an important growth business for the company. Gtrust has more than $600 million in assets under management.

“We believe that this acquisition provides us with new wealth management products and expertise, a talented and creative team of wealth management entrepreneurs who have built and grown a successful business and an expanded presence in the important Kansas market,” Bradshaw said in a statement.

Bradshaw said BOK Financial's goal with Gtrust is to replicate the integration and growth of Colorado-based The Milestone Group, which BOK Financial bought last year. Gtrust has 30 investment professionals in the Kansas cities of Topeka, Wichita, Marysville, Larned and Overland Park.

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by Paul Monies
Energy Reporter
Paul Monies is an energy reporter for The Oklahoman. He has worked at newspapers in Texas and Missouri and most recently was a data journalist for USA Today in the Washington D.C. area. Monies also spent nine years as a business reporter and...
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We believe that this acquisition provides us with new wealth management products and expertise, a talented and creative team of wealth management entrepreneurs who have built and grown a successful business and an expanded presence in the important Kansas market.”

Steve Bradshaw,
Senior executive vice president

for BOK Financial

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