BOK has maintained a presence in Denver through its local bank brand, Colorado State Bank and Trust, a 100-year-old company. The acquisition will strengthen the Colorado bank's wealth management business.
Milestone provides wealth management services to approximately 250 high-net-worth clients located primarily in Colorado and Nebraska. It manages $1.3 billion in equity and fixed income investments, BOK said.
"BOK Financial is actively pursuing acquisitions that allow us to continue our growth trajectory, while delivering a comprehensive investment suite to our clients," Steve Bradshaw, BOK's senior executive vice president, said in a statement.
Milestone will "maintain its commitment to independent thinking and discipline when making investment decisions for its clients," BOK Financial said. The firm's founders, advisors and relationship teams will remain intact.
"This partnership preserves our team and boutique service model, yet adds the strength and resources of a stable, 100-year-old firm," Robert Adams, Milestone's co-founder and managing director, said in a statement.
BOK is a $26 billion regional financial services company based in Tulsa, Okla. In addition to the Colorado State Bank and Trust, BOK operates the following banking divisions: Bank of Albuquerque, Bank of Arizona, Bank of Arkansas, Bank of Kansas City, Bank of Oklahoma, and Bank of Texas.