Arvest Wealth Management (AWM), a subsidiary of Fayetteville-chartered Arvest Bank, had $14.4 billion in assets under management at the end of 2020. That’s up from more than $13 billion at the end of 2019 and more than $12 billion as of Dec. 31, 2018.
AWM, which is headquartered in Lowell, offers wealth management, trust, investment and insurance products and services, and has investment and trust advisers throughout Arvest Bank’s four-state footprint.
It recorded revenue of $69 million in 2020, down slightly from $69.6 million in 2019.
“2020 was a year when the value of ‘advice’ was on full display,” said Jim King, Arvest Wealth Management president and CEO. “COVID-19 caught the world by surprise and sent shock waves through the financial markets. Our investment and trust advisers embraced a rapid rollout of new communications technology and provided their customers with much-needed guidance.
“The last year, in fact, has only reinforced our need to provide our advisers the digital tools they need to more effectively engage with customers. We want to deliver advice in all the new and different ways our customers expect. Additionally, we remain committed to providing educational and informational content as market conditions and legislative changes demand.”