CLEVELAND–(Enterprise WIRE)–Jan 26, 2021–
MAI Capital Administration, LLC (“MAI”), a foremost independent registered expense adviser that specializes in detailed expense and economic organizing for high-net-worthy of persons and households, has entered into an agreement to acquire HW Fiscal Advisors (“HWFA”). The partnership extends MAI’s presence in the Larger Cleveland place and will further more enrich the firm’s depth of holistic prosperity administration capabilities.
HWFA, an affiliate of Beachwood, Ohio-centered accounting firm HW&Co., was established more than 20 yrs ago with the mission of offering complete wealth management, goals-based mostly organizing and modern investment decision methods for its clients. HWFA’s president Stephen Rudolph, CPA, MBA, who was an MAI personnel early in his occupation, will believe the role of Managing Director at MAI.
“Our advancement trajectory has been anchored by a technique of aligning with like-minded professionals, and Steve and his crew embody this with their commitment to excellent shopper services and thorough scheduling methods,” stated Rick Buoncore, Controlling Husband or wife at MAI. “We are enthusiastic to welcome him back to MAI and work collectively to enhance our presence in just Cleveland and past.”
All through its history, HWFA preserved a partnership with Cleveland-dependent accounting company HW&Co., which, beneath the management of its current president and CEO Brandon Miller, has supported its advancement around the last two a long time in their shared commitment to giving good quality shopper services and extensive solutions. This romance will keep on under the MAI partnership.
“We have been lucky to improve a robust staff of professionals, united by a customer-initial support philosophy,” Rudolph commented. “We have developed substantially in recent yrs with the support of associates Stanley Majkrzak and Craig Petti and our entire crew, as very well as our partners at HW&Co. We are enthusiastic to proceed this near doing the job partnership and greatly enhance the answers and services we provide to our purchasers with MAI.”
This is MAI’s 10th acquisition because using a minority expenditure from Prosperity Associates Funds Group (“WPCG”), a monetary expert services holding enterprise, in July 2017. Previous yr, MAI done three strategic acquisitions that established the firm’s existence in new geographies, together with its acquisition of Smith Funds Administration in Little Rock, Arkansas, Greenway Family Office in St. Louis and Grisanti Funds Administration in New York Town.
“MAI continues to be each considerate and strategic in its growth, aligning with corporations and advisors who share its consumer-first philosophy and technique,” pointed out John Copeland, Handling Husband or wife at WPCG. “MAI’s partnership with HWFA is rooted in a long-standing experienced romantic relationship involving the companies, and is an great case in point of MAI’s motivation to growing its get to and abilities.”
The deal with HWFA is topic to customary closing situations and is expected to close by the close of the initial quarter of 2021. HWFA’s assets below management totaled above $700 million as of Dec. 31, 2020. Fiscal and legal terms of the deal will not be disclosed.
About MAI Money Administration
MAI Funds Management (“MAI”) is a cost-centered registered investment decision adviser and prosperity administration business based in Cleveland, with supplemental workplaces in Cincinnati and Columbus, OH, Ponte Vedra Beach, FL, Nashua, NH, Irvine, CA, Reston, VA, Tiny Rock, AR, New York Town and St. Louis. As of December 31, 2020, MAI’s property beneath management totaled $9.1 billion. The organization also presents extensive expenditure management and scheduling solutions to high-web-value folks, families and athletes. MAI is led by Taking care of Husband or wife Rick Buoncore. For far more info, remember to stop by www.mai.funds.
About Prosperity Partners Cash Team
Prosperity Associates Cash Group (“WPCG”) is a monetary products and services holding firm, which has partnered with MAI Cash Management (“MAI”). WPCG assists MAI by pinpointing and integrating like-minded registered investment decision advisers who are seeking entry to expanded business abilities, strategic development and custom made transition alternatives. The WPCG management team is led by companions John W. Copeland, Rich Gill and Sean Bresnan. For more data, you should visit www.wealthpcg.com.
Gregory FCA for MAI Funds
Key phrase: OHIO UNITED STATES NORTH The us
Marketplace Search term: CONSULTING BANKING Professional Expert services FINANCE
Resource: MAI Cash Administration, LLC
Copyright Company Wire 2021.
PUB: 01/26/2021 08:30 AM/DISC: 01/26/2021 08:31 AM
Copyright Company Wire 2021.