MAI Money Management Acquires MWM Expenditure Consulting | Company
3 min readCLEVELAND–(Business enterprise WIRE)–Might 3, 2021–
MAI Funds Administration, LLC (“MAI”), an independent registered financial commitment adviser specializing in extensive investment and money setting up for large-net-worth persons and people, has obtained MWM Financial commitment Consulting, LLC (“MWM”). The acquisition expands MAI’s presence in Florida and bolsters expense management expertise across the agency.
Primarily based in Naples, Florida, MWM was started in 2009 by Matthew Mathias. The business supplies financial commitment administration providers and options to its consumers, comprised of superior-web-really worth persons, wealthy family members and charitable foundations. MWM employs a detailed, multi-action procedure resulting in a chance-managed, strategic investment system. Richard Beebe will become a Senior Prosperity Advisor and Handling Director and Mathias will suppose the purpose of Regional President and Handling Director at MAI.
“Expanding our existence in Florida has been a extended-standing aim for MAI,” mentioned Rick Buoncore, Controlling Partner at MAI. “We prioritize partnering with leaders and firms who share our approach to functioning with shoppers. MWM is identified in just its group for supplying individualized, goal and transparent investment advice, carefully mirroring the MAI financial investment philosophy. We’re fired up to welcome Matt and Rick to MAI.”
Mathias additional: “Rick Beebe and I have attained accomplishment as a result of our financial investment administration solution and large-contact, customer-centric company. Our partnership with MAI builds upon this basis, permitting us to offer purchasers a far more expansive suite of investment options and leverage the MAI team’s in-residence skills and insights across economical organizing and expenditure administration disciplines.”
This is MAI’s 12th acquisition given that taking a minority expense from Wealth Partners Capital Team (“WPCG”), a money companies keeping enterprise, in July 2017. In 2020, MAI done 3 strategic acquisitions that proven the firm’s presence in new geographies, including Minimal Rock, Arkansas, St. Louis and New York Town. Before this year, MAI announced its acquisitions of HW Monetary Advisors and the prosperity management division of Possession Advisors, both of those centered in the larger Cleveland space. This is the firm’s initially acquisition in Florida, incorporating to an existing existence in Ponte Vedra Beach and a new employ in the increased Miami region.
“MAI has been strategic in its development trajectory, introducing like-minded advisors who share its consumer-to start with philosophy and dedication to in depth fiscal and wealth management,” mentioned Sean Bresnan, Spouse at WPCG. “This approach has pushed results across the firm as it carries on to add methods, knowledge and scale, surpassing $10 billion in belongings beneath administration before this year.”
The acquisition shut on April 30, 2021, and will raise MAI’s belongings below management by over $100 million. Economic and legal conditions of the deal had been not disclosed.
About MAI Capital Administration
MAI Cash Administration (“MAI”) is a price-based mostly registered investment decision adviser and prosperity management company based in Cleveland, with extra places of work in Cincinnati, OH, Ponte Vedra Beach front, FL, Nashua, NH, Irvine, CA, Reston, VA, Minimal Rock, AR, New York Town and St. Louis and a existence in Columbus, OH and Miami. As of Mar. 31, 2021, MAI’s belongings less than administration totaled $10.3 billion. The organization also offers in depth investment decision management and preparing providers to higher-internet-truly worth folks, family members and athletes. MAI is led by Controlling Husband or wife Rick Buoncore. For a lot more facts, remember to stop by www.mai.money.
About Wealth Companions Money Team
Wealth Companions Money Group (“WPCG”) is a fiscal expert services keeping corporation, which has partnered with MAI Capital Administration (“MAI”). WPCG helps MAI by pinpointing and integrating like-minded registered financial investment advisers who are seeking access to expanded enterprise abilities, strategic progress and personalized transition solutions. The WPCG administration team is led by companions John W. Copeland, Rich Gill and Sean Bresnan. For additional details, be sure to visit www.wealthpcg.com.
View resource variation on businesswire.com:https://www.businesswire.com/news/household/20210503005251/en/
Get hold of: Marissa Foy Comerford
Gregory FCA for MAI Funds
610-228-2104
Keyword: UNITED STATES NORTH America OHIO
Sector Key phrase: BANKING Professional Expert services FINANCE
Supply: MAI Cash Administration, LLC
Copyright Small business Wire 2021.
PUB: 05/03/2021 08:30 AM/DISC: 05/03/2021 08:30 AM
Copyright Business enterprise Wire 2021.
