Denver-based D.A. Davidson & Co. will acquire Wells Nelson & Associates, an Oklahoma-based public finance and wealth management firm.
The deal strengthens D.A. Davidson’s fixed-income presence in Oklahoma and Texas and unites two firms whose expertise and market leadership are aligned, company officials said
“Wells Nelson has a great reputation, deep expertise and solid relationships throughout the region and we look forward to adding their professionals to our team,” said Sam Doyle, president of Davidson. “Their work will complement D.A. Davidson’s broad expertise in fixed income and is well-aligned with our client-first focus.”
Wells Nelson will join Davidson’s Fixed Income Capital Markets group but will retain its name, which Doyle said is well-recognized in its region.
Fifteen Wells Nelson professionals are expected to join Davidson, working from their existing three offices in Oklahoma and Texas. They join a team of about 160 Fixed Income Capital Markets employees who work from offices across the United States.
“We very much look forward to joining with D.A. Davidson in a move that will ensure we continue adding new resources for our team,” said Randy Nelson, president of Wells Nelson. “Most importantly, this is the right move for our clients, given D.A. Davidson’s tradition of excellent client service and giving back to local communities.”
Employee-owned Davidson raises capital through fixed-income banking, distribution and depository strategy. The firm was the No. 1 ranked underwriter of negotiated transactions in Oklahoma for 2018, according to data from Refinitiv.
With 26 locations in 18 states, the group serves clients including banks, credit unions, insurance companies, bond managers, money managers and trust companies.
Davidson serves individuals, corporations, institutions and municipalities nationwide. Founded in Montana in 1935, with regional headquarters in Great Falls, Denver, Los Angeles, Portland and Seattle, the company has approximately 1,370 employees and offices in 26 states.