MAI Capital Management, a Cleveland-based registered investment adviser, acquired West Point Business Group and said the deal will enable it to launch MAI Retirement, a business servicing retirement plans.
West Point, with $230 million in assets under management and $568 million in retirement plan assets, is based in Ponte Vedra Beach, Florida, and offers retirement plan consulting for businesses in addition to wealth management services for individuals.
C. Clayton Perry and Keola J. Elobt, partners at West Point, both will become managing directors and group heads at MAI Retirement. They are joined in the move to MAI Retirement by four other team members. Jason Hamilton was named director of retirement at MAI Retirement.
“We have worked with MAI for the last 5 years and have seen up close the quality of the company and the people,” Perry said in a statement. “We are excited to join the MAI team and look forward to building a national retirement plan platform across the enterprise.”
The purchase of West Point is MAI’s 10th acquisition since the firm was purchased by Galway Holdings in September 2021.
Amid a record pace of downsizing in 2025 so far, SVP and financial planning expert sheds light on key considerations for clients after a sudden layoff.
The $71 billion RIA accuses former employees Ryan Malec and David Weitz of stealing client data and breaching contracts after launching a rival firm in Atlanta.
GOP lawmakers mostly representing New York, New Jersey, and California put Trump's multi-trillion-dollar tax agenda at risk.
Digital study platform aims to improve CFP exam readiness with personalized tools and real-time feedback.
Brokerage customers frustrated as login problems coincide with bullish surges in the S&P 500 and the Nasdaq.
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.
