Last edited 1:40 p.m., Aug. 10, 2021
Grey Oak Investments LLC doubled the size of its portfolio by purchasing the book of business from another Springfield investment firm.
Robert DeVore, owner and investment representative of Grey Oak, said the acquisition of the book of business of Smouse Financial Services Inc. from Ron Smouse closed July 14. DeVore declined to disclose the financial terms of the purchase or the size of Grey Oak's investment portfolio.
"We will increase the size of the book of business Grey Oak manages by 115%," DeVore said via email. "Smouse Financial has been around since 1978 and has a great track record in the southwest Missouri region."
Grey Oak provides retirement, education, stocks and trust investment management services, among other investments, according to its website. Smouse Financial’s portfolio includes mutual funds, stocks and bonds, according to past reporting.
Smouse said he will continue to offer tax services independently.
“I’ve been doing that for 42 years,” he said, noting he envisions continuing to provide tax services for another 10-15 years. “I’m getting ready to semiretire, and the security side is more strenuous.”
Smouse said he also would work with DeVore to transition Smouse Financial’s investment book of business to Grey Oak.
DeVore started Grey Oak in 2015 through the purchase of businessperson Tony Bergkeotter's Royal Alliance financial book of business, according to a news release. Smouse Financial also offered services through Jersey City, New Jersey-based investment company Royal Alliance.
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