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Eaton Vance (EV) Completes Acquisition of WaterOak Advisors
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Eaton Vance Corp. (EV - Free Report) , through its wholly owned subsidiary, Eaton Vance Investment Counsel, has completed the acquisition of the assets of the Winter Park, FL-based wealth management firm — WaterOak Advisors, LLC.
Headquartered in Winter Park, FL, WaterOak Advisors is a wealth management firm with about $2.3 billion of client assets under management.
Upon completion, the combined company — Eaton Vance WaterOak Advisors — has about $11.4 billion of client assets under advisement. The company will offer high-net-worth families and institutions with access to sophisticated wealth management and investment solutions, including financial, estate and tax planning, investment management, and family office and trust services.
As part of the deal, L. Clarke Lemons, founder and president of WaterOak, Stephen Curley and Scott Macaione, along with their team, joined Eaton Vance Investment Counsel.
"The mission of Eaton Vance WaterOak Advisors is to provide world-class wealth management and investment services customized to fit the particular circumstances of each client and delivered with a highly personal touch," said David C. McCabe, President.
OurTake
The company’s strong assets under management balance and diverse product offerings areexpected to boost revenues, despite the economic slowdown. However, elevated operating expenses are expected to hurt the bottom line to some extent.
Shares of Eaton Vance, a Zacks Rank #3 (Hold) company, have gained 73.4% over the past year compared with the 21.2% growth recorded by the industry.
Royal Bank of Canada (RY - Free Report) has witnessed an upward earnings estimate revision for 2020 in the past 60 days. Moreover, the Zacks Rank #2 stock has gained 16.9% in the past six months.
KB Financial Group Inc’s (KB - Free Report) earnings estimates have moved upward for 2020 in the past 60 days. Moreover, the Zacks #2 Ranked stock has gained 40.2% in the past six months.
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Eaton Vance (EV) Completes Acquisition of WaterOak Advisors
Eaton Vance Corp. (EV - Free Report) , through its wholly owned subsidiary, Eaton Vance Investment Counsel, has completed the acquisition of the assets of the Winter Park, FL-based wealth management firm — WaterOak Advisors, LLC.
Headquartered in Winter Park, FL, WaterOak Advisors is a wealth management firm with about $2.3 billion of client assets under management.
Upon completion, the combined company — Eaton Vance WaterOak Advisors — has about $11.4 billion of client assets under advisement. The company will offer high-net-worth families and institutions with access to sophisticated wealth management and investment solutions, including financial, estate and tax planning, investment management, and family office and trust services.
As part of the deal, L. Clarke Lemons, founder and president of WaterOak, Stephen Curley and Scott Macaione, along with their team, joined Eaton Vance Investment Counsel.
"The mission of Eaton Vance WaterOak Advisors is to provide world-class wealth management and investment services customized to fit the particular circumstances of each client and delivered with a highly personal touch," said David C. McCabe, President.
OurTake
The company’s strong assets under management balance and diverse product offerings areexpected to boost revenues, despite the economic slowdown. However, elevated operating expenses are expected to hurt the bottom line to some extent.
Shares of Eaton Vance, a Zacks Rank #3 (Hold) company, have gained 73.4% over the past year compared with the 21.2% growth recorded by the industry.
Key Picks
Bank of Montreal (BMO - Free Report) current-year earnings estimates have been revised north in the past 60 days. Further, the company’s shares have gained 23.7% in the past six months. At present, it has a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Royal Bank of Canada (RY - Free Report) has witnessed an upward earnings estimate revision for 2020 in the past 60 days. Moreover, the Zacks Rank #2 stock has gained 16.9% in the past six months.
KB Financial Group Inc’s (KB - Free Report) earnings estimates have moved upward for 2020 in the past 60 days. Moreover, the Zacks #2 Ranked stock has gained 40.2% in the past six months.
Legal Marijuana: An Investor’s Dream
Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
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