MAI Capital Management Acquires Investment Planning Associates

The acquisition expands MAI’s presence in the Mid-Atlantic region and will provide clients of Investment Planning Associates with expanded investment options

MAI Capital Management, LLC (“MAI”), a registered investment adviser specializing in comprehensive investment and financial planning for high-net-worth individuals and families, has acquired Investment Planning Associates, Inc. (“IPA”). The acquisition develops MAI’s presence in Rockville, Maryland and further enhances the firm’s depth of wealth management capabilities.

Founded in 1990, IPA’s longevity is largely attributed to the firm’s core principles which leads with a client-focused approach. IPA offers sensible and tailored financial and investment planning services. The firm’s founding partner, Jay Levin, will assume the role of Senior Wealth Advisor and Managing Director, while Ari Wiener will take on the role of Wealth Advisor and Director at MAI.

“MAI is excited to welcome Jay and Ari to the team and continue to expand our Mid-Atlantic presence,” said Rick Buoncore, Managing Partner at MAI. “IPA has a long-standing reputation, spanning over 30-years, of client-first service, which mirrors MAI’s approach.”

This is MAI’s fourth acquisition since Galway Holdings (“Galway”), a leading financial services distribution company, completed its acquisition of MAI in September 2021. This partnership positions MAI for ongoing and strategic growth through continued M&A and organic activity, and broadens its client service offerings. Recently, MAI announced its acquisition of Queens Oak Advisors in Charlotte North Carolina; Hochman Cole Investment Advisors, based in the Chicagoland area; and Storey & Associates, in North Canton, Ohio. Earlier this year, MAI acquired HW Financial Advisors and the wealth management division of Ownership Advisors, both based in the Greater Cleveland area; along with Naples, Florida-based MWM Investment Consulting and Baltimore-based Geier Asset Management.

Levin added: “It was important for IPA to partner with a firm that aligned with our core principles and would offer our clients expanded investment opportunities. Looking ahead, MAI will add support, technology and resources as the investing landscape continues to change.”

“MAI continues to seek out firms with shared values,” said John Hahn, Executive Chairman at Galway. “In the current investing environment, with countless options and unlimited access to information, investors need to be assured that their financial futures are being shepherded by experienced individuals and that is what IPA has shown through their decades of client-focused advising.”

The acquisition closed on Dec. 17, 2021 and will increase MAI’s assets under management by $235 million. Financial and legal terms of the deal were not disclosed.

About MAI Capital Management

MAI Capital Management, LLC (“MAI”) is a fee-based registered investment adviser and wealth management firm based in Cleveland, with additional offices in Charlotte; Chicago; Cincinnati; Ponte Vedra Beach, Florida; Nashua, New Hampshire; Irvine, California; Reston, Virginia; Baltimore; Little Rock, Arkansas; Naples, Florida; New York City and St. Louis. As of Nov. 30, 2021, MAI’s assets under management totaled $12.2 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 Galway Holdings

Galway Holdings, LP (“Galway”) is a financial services distribution company. It includes EPIC Insurance Brokers & Consultants and a diversified brokerage distribution and underwriting platform, with a focus on data analytics, technology transformation and innovative risk-sharing solutions.

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