Arvest Wealth Management (AWM), a subsidiary of Fayetteville-chartered Arvest Bank, had $15.9 billion in assets under management at the end of 2021. That’s up from more than $14.4 billion at the end of 2020, more than $13 billion at the end of 2019 and more than $12 billion as of Dec. 31, 2018.
According to a company news release, revenues were up from $69 million in 2020 to $87 million in 2021.
“More important than the numbers was the growth we saw in expanding our relationships with existing clients to more effectively meet their ever-changing financial needs,” Arvest Wealth Management president and CEO Jim King said in a statement. “We also saw significant growth in the number of Arvest Bank customers who began relationships with Arvest Wealth Management advisers. The ongoing pandemic continues to demonstrate the importance of the planning and advice our clients seek from our investment and trust advisers.”
Later this year, Arvest Wealth Management will launch a new digital platform to engage with a new demographic of investors.
“We are excited because we want to provide our advisers the digital tools they need to engage with customers more effectively by embracing innovative digital channels that many consumers are expecting,” King said. “We are committed to reaching those who are in the early stages of investing and are more inclined to prefer digital services in their daily lives.”