WILMINGTON, N.C. (April 5, 2020) – Live Oak Private Wealth announced today that it has acquired Rocky Mount-based Jolley Asset Management, bringing together approximately $440 million in assets under management as of March 31, 2020.
Live Oak Private Wealth, a company dedicated to providing high-net-worth individuals and families with wealth and investment management strategies, and Jolley Asset Management join forces to better serve clients for generations to come. Jolley Asset Management, an industry leader in Eastern North Carolina, was founded more than 20 years ago and is led by President and Chief Investment Officer Frank Jolley.
“We are proud to partner with Frank and his team to bring together some of the top talent in North Carolina under the Live Oak umbrella,” said Andy Basinger, managing director of Live Oak Private Wealth. “Our combined expertise, unmatched service and track records of success are complementary, and together we will be able to grow and expand services to our clients.”
The transaction closed April 1, 2020. Jolley Asset Management will continue to service clients from its Rocky Mount office under the name Jolley Asset Management – A Live Oak Private Wealth Business. Live Oak Private Wealth will maintain its offices in Wilmington.
“Both companies are steeped in a culture of excellence and experienced guidance, and Live Oak Private Wealth is a natural match to our model,” said Jolley.
About Live Oak Private Wealth
Live Oak Private Wealth, an SEC registered investment advisor, is a subsidiary of Live Oak Bank and is dedicated to providing high-net-worth individuals and families with the wealth and investment management strategies they need to pursue their financial goals. Live Oak Bank is a subsidiary of Live Oak Bancshares, Inc. (Nasdaq: LOB).