MAI Capital acquires two wealth management firms to add $1 billion in assets

MAI Capital Management has expanded its footprint through the acquisition of two wealth management firms, adding over $1 billion in client assets.

In Atlanta, MAI acquired Waypoint Wealth Counsel, a fee-only registered investment advisor managing approximately $490 million in assets. Waypoint serves over 100 households, focusing on affluent individuals, entrepreneurs, and multigenerational families. The move provides MAI with a strategic foothold in the Atlanta market.

Additionally, MAI acquired OG Private Wealth, a firm with offices in Chico and Hermosa Beach, California, which manages approximately $551 million in assets for more than 300 households.

These acquisitions follow a period of significant restructuring for MAI Capital Management. Earlier this year, The Carlyle Group transitioned from a minority stakeholder to holding a majority stake in the Cleveland-based firm in a deal that valued MAI at more than $2.8 billion. CEO Rick Buoncore has utilized recent recapitalization to drive inorganic growth and expand service offerings across the firm.