MAI Capital Management Acquires Winfield Associates

The Cleveland-based acquisition adds to MAI’s financial planning and investment teams

MAI Capital Management, LLC (“MAI”), a registered investment adviser specializing in comprehensive investment and financial planning for high-net-worth individuals, families, professional athletes and entertainers, has acquired Winfield Associates (“Winfield”). The acquisition adds talent to MAI’s financial planning and investment teams at its headquarters in Cleveland.

Founded in 1997 by William Winfield Baker and his son, Christopher “Biff” Baker, Winfield provides comprehensive financial advice, customized investment portfolios and private wealth services for its clients. The firm works with individual investors, endowments and foundations, business owners and professionals, and retirees to help them meet their financial goals. The firm’s key executives will join MAI, with Biff Baker assuming the role of Managing Director and Partner of MAI, and Mark Q. Haley assuming the role of Managing Director and Partner of MAI.

“We are proud that MAI is regarded for personalized service and a steadfast commitment to our clients,” said Rick Buoncore, Managing Partner at MAI. “Biff, Mark and the entire Winfield team share this perspective, further empowering our team and extending our reach to additional clients. We are excited to welcome them to the MAI team.”

This is MAI’s sixth acquisition since Galway Holdings (“Galway”), a leading financial services distribution company, completed its acquisition of MAI in September 2021. The partnership with Galway positions MAI for ongoing and strategic growth through M&A and organic activity and broadens its client service offerings.

Earlier this year, MAI announced its acquisition of Monarch Business & Wealth Management located in New York City. Prior to that in 2021, MAI completed acquisitions in Maryland, North Carolina, Illinois, Ohio and Florida, extending its growing footprint across the Midwest, Mid-Atlantic and Southeastern regions.

“Our clients are our top priority, and we are committed to delivering comprehensive support and strategies that advance their financial goals,” Baker and Haley commented. “Partnering with MAI allows us to continue to deliver this level of service, while enhancing the technology, resources and solutions we offer our clients.”

John Hahn, Executive Chairman at Galway added: “MAI is focused on amplifying its impact for high-net-worth investors, consistently delivering strategic wealth management solutions that are driven by comprehensive and customized strategies. The partnership with Winfield advances this mission in the Cleveland region and beyond.”

The acquisition closed on June 24, 2022 and will increase assets under management by over $368 million. Financial and legal terms of the deal were not disclosed.

About MAI Capital Management

MAI is a fee-based registered investment adviser and wealth management firm based in Cleveland with 17 additional offices nationwide. As of March 31, 2022, MAI’s assets under management totaled $14.4 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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