Deals Of The Day: The Latest In Wealth Management M&A - Eaton Vance, WaterOak Advisors

Editorial Staff

3 November 2020

Eaton Vane, WaterOak Advisors
Eaton Vance Investment Counsel, a wholly owned subsidiary of Eaton Vance, has completed the previously-announced purchase of the assets of WaterOak Advisors. WaterOak is a wealth management firm based in Winter Park, Florida with about $2.3 billion of client assets under management.

Put together, Eaton Vance Investment Counsel and WaterOak have $11.4 billion of client assets under advisement. The new name of the combined organizations is Eaton Vance WaterOak Advisors.

As reported in early October, Eaton Vance is itself the subject of a merger. Morgan Stanley is buying the US investment house in a cash and stock deal for an equity value of $7 billion, purchasing a firm with more than $500 billion of assets under management. The transaction adds to Morgan Stanley’s E*Trade acquisition in the discount broker space.