MAI Capital Management Acquires MWM Investment Consulting | Financial Buzz

MAI Capital Management Acquires MWM Investment Consulting

MAI Capital Management, LLC (“MAI”), an independent registered investment adviser specializing in comprehensive investment and financial planning for high-net-worth individuals and families, has acquired MWM Investment Consulting, LLC (“MWM”). The acquisition expands MAI’s presence in Florida and bolsters investment management expertise across the firm.

Based in Naples, Florida, MWM was founded in 2009 by Matthew Mathias. The firm provides investment management services and solutions to its clients, comprised of high-net-worth individuals, wealthy families and charitable foundations. MWM employs a comprehensive, multi-step process resulting in a risk-managed, strategic investment strategy. Richard Beebe will become a Senior Wealth Advisor and Managing Director and Mathias will assume the role of Regional President and Managing Director at MAI.

“Expanding our presence in Florida has been a long-standing goal for MAI,” said Rick Buoncore, Managing Partner at MAI. “We prioritize partnering with leaders and firms who share our approach to working with clients. MWM is known within its community for providing personalized, objective and transparent investment advice, closely mirroring the MAI investment philosophy. We’re excited to welcome Matt and Rick to MAI.”

Mathias added: “Rick Beebe and I have achieved success as a result of our investment management approach and high-touch, client-centric service. Our partnership with MAI builds upon this foundation, allowing us to offer clients a more expansive suite of investment solutions and leverage the MAI team’s in-house expertise and insights across financial planning and investment management disciplines.”

This is MAI’s 12th acquisition since taking a minority investment from Wealth Partners Capital Group (“WPCG”), a financial services holding company, in July 2017. In 2020, MAI completed three strategic acquisitions that established the firm’s presence in new geographies, including Little Rock, Arkansas, St. Louis and New York City. Earlier this year, MAI announced its acquisitions of HW Financial Advisors and the wealth management division of Ownership Advisors, both based in the greater Cleveland area. This is the firm’s first acquisition in Florida, adding to an existing presence in Ponte Vedra Beach and a recent hire in the greater Miami region.

“MAI has been strategic in its growth trajectory, adding like-minded advisors who share its client-first philosophy and commitment to comprehensive financial and wealth management,” said Sean Bresnan, Partner at WPCG. “This approach has driven success across the firm as it continues to add resources, expertise and scale, surpassing $10 billion in assets under management earlier this year.”

The acquisition closed on April 30, 2021, and will increase MAI’s assets under management by over $100 million. Financial and legal terms of the deal were not disclosed.

About MAI Capital Management

MAI Capital Management (“MAI”) is a fee-based registered investment adviser and wealth management firm based in Cleveland, with additional offices in Cincinnati, OH, Ponte Vedra Beach, FL, Nashua, NH, Irvine, CA, Reston, VA, Little Rock, AR, New York City and St. Louis and a presence in Columbus, OH and Miami. As of Mar. 31, 2021, MAI’s assets under management totaled $10.3 billion. The firm also provides comprehensive investment management and planning services to high-net-worth individuals, families and athletes. MAI is led by Managing Partner Rick Buoncore. For more information, please visit www.mai.capital.

About Wealth Partners Capital Group

Wealth Partners Capital Group (“WPCG”) is a financial services holding company, which has partnered with MAI Capital Management (“MAI”). WPCG assists MAI by identifying and integrating like-minded registered investment advisers who are seeking access to expanded business capabilities, strategic growth and customized transition solutions. The WPCG management team is led by partners John W. Copeland, Rich Gill and Sean Bresnan. For more information, please visit www.wealthpcg.com.

Contacts

Marissa Foy Comerford

Gregory FCA for MAI Capital

MAI@GregoryFCA.com

610-228-2104