Galway Insurance buys $9.2 billion RIA

Galway Insurance Holdings, a San Francisco-based financial services distribution firm, has acquired MAI Capital Management, a Cleveland-based registered investment adviser managing $9.2 billion through several offices around the country.

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MAI’s executive team, which is led by Rick Buoncore, will remain, with MAI adding “financial and wealth management services that complement existing business relationships within Galway’s EPIC Insurance Brokers & Consultants unit and other areas of specialization across the company,” Galway said in a release.

Wealth Partners Capital Group took a stake in MAI in 2017, and since then MAI has done 12 acquisitions, according to the press release. Wealth Partners Capital Group will maintain its stake in the firm.

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