BOK Financial To Buy MBM Advisors

(RTTNews) - BOK Financial Corp. (BOKF) said Tuesday that it has entered into an agreement to acquire MBM Advisors, a Houston-based independent, full service retirement and pension plan investment firm and SEC registered investment adviser.

The acquisition will increase BOK Financial's retirement and individual assets under management by $1.25 billion and expand the company's wealth management capabilities, as well as its presence in Houston.

Terms of the deal were not disclosed.

The acquisition is expected to close in the second quarter of 2014.

MBM Advisors specializes in managing all aspects of their clients' employee retirement and pension plans, including providing investment advisory services as an ERISA 3(38) Fiduciary, plan design, plan compliance, recordkeeping and actuarial services. MBM Advisors has clients in 15 states, including those in which BOK Financial already has a full service banking presence.