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BOK Financial To Acquire GTRUST Financial Corporation

Stocks in this article: BOKF

BOK Financial Corporation announced today that it has entered into an agreement to acquire GTRUST Financial Corporation, a Topeka, Kansas-based independent trust and asset management company. This acquisition will increase BOK Financial’s assets under management or custody by $600 million and expand the company’s capabilities and presence in the Kansas market. Terms of the transaction were not disclosed.

Founded in 1991, GTRUST provides a range of financial services for its clients including asset and risk management, tax planning, fee-only financial planning, debt management, estate planning and charitable/social capital strategy.

As BOK Financial’s first acquisition of a fee-only financial planner, GTRUST provides a new wealth management capability that can be leveraged across the company’s entire geographic footprint.

“Wealth management is an important growth business for us, and we look forward to having GTRUST under the BOK Financial umbrella,” said Steve Bradshaw, senior executive vice president for BOK Financial. “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. It is also a win/win, as the talented team at GTRUST now has the entire portfolio of BOK Financial products and services to provide to its clients in more than 25 states.”

“Our acquisition of The Milestone Group last year was very successful. Milestone has seen its discretionary assets expand by 19 percent in just over a year as part of our company,” said Bradshaw. “Our goal is to replicate that success with GTRUST and continue to build our wealth management platform going forward.”

“BOK Financial was a natural fit for us, as the two organizations share a common philosophy and approach to wealth management based on putting the client’s needs front-and-center in our respective planning processes,” said Daryl Craft, president and CEO of GTRUST Financial Corporation. “With BOK Financial’s fiscal strength, breadth of services, and marketing know-how supporting our business, we believe we can provide our clients with an even more comprehensive suite of products and services to support their overall financial needs.”

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