Woodbury Financial Services has acquired Capital One Investing’s $10 billion investment management and brokerage division.
The terms of the deal were not disclosed. The deal is expected to close during the second quarter or third quarter 2018.
The sale is part of Capital One’s move away from some financial service businesses. In January, the company announced it was exiting the online investing business, selling 1 million brokerage accounts to E*Trade Financial Corp. for $170 million.
