MAI Capital Management is broadening its Northeast footprint with a new partnership in Pennsylvania.
On Monday, MAI announced its acquisition of Hyperion Partners, a Berwyn-based advisory firm, to expand its footprint into the greater Philadelphia area.
The deal adds approximately $528.8 million to the firm’s assets under management while strengthening its position in a key regional market.
Founded in 2018 by Jeffrey Leber and Vaughn Schill, Hyperion Partners provides advisory services primarily to high-net-worth individuals and businesses. As of September 30, it managed $528.8 million in client assets.
Currently, Cleveland, Ohio-headquartered MAI Capital Management oversees $28.2 billion in AUM, as well as an additional $3.2 billion in AUA, across 16 offices in the US. Employing over 475 people as of September 30, the firm specializes in comprehensive investment and financial planning for affluent clients.
“When we choose to expand our team, we look for partners who understand that clients come first,” Patrick Gingras, market leader and regional president at MAI, said in a statement Monday. “Jeff, Vaughn, and the full Hyperion team provide high-quality service and advice for their clients across a wide net of capabilities from tax and estate planning to business strategies.”
As part of the acquisition, MAI says Hyperion will be adopting its brand and benefit from its internal resources, including human resources, operations, and marketing infrastructure. Leber and Schill will also assume new roles as regional presidents within MAI.
“Going above and beyond for our clients is what has allowed us to gain their trust throughout our careers,” said Leber and Schill in a joint statement. “MAI shares this philosophy, and this next chapter in our story allows us to act on it in new ways to help provide families and businesses with a return on their investments.”
MAI's transaction with Hyperion adds to its 2024 calendar of acquisitions, which includes its deal for $1.2 billion Halpern Financial in October and its earlier move to welcome Harbor Wealth Management, a women-owned and operated firm in Colorado, in May.
Despite a lighter regulatory outlook and staffing disruptions at the SEC, one compliance expert says RIA firms shouldn't expect a "free pass."
FINRA has been focused on firms and their use of social media for several years.
RayJay's latest additions bolster its independent advisor channel's presence across Pennsylvania, Florida, and Washington.
The deal ending more than 30 years of ownership by the Swiss bank includes six investment strategies representing more than $11 billion in AUM.
Divorce, widowhood, and retirement are events when financial advisors may provide stability and guidance.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
