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.
Paul V. Morris worked at multiple firms across Wall Street and most recently in Manhattan for Merrill Lynch.
Convicted by an LA jury on 13 of 17 counts, the Citron Research founder and activist short seller now is now facing a statutory 25-year federal prison sentence.
The deal marks Ground Control's second UK transaction in under two years as US wealth platforms race to stake out overseas territory.
Investors' tendency to choose external goalposts can seriously impact their odds of long-term success – and they might not even know it.
“We fear that it will be ‘open season’ from the plaintiffs’ bar on plan fiduciaries who are early adopters of alternative investments,” said Tim Collins, a partner at Duane Morris.
As $84 trillion prepares to change hands, advisors who treat estate planning as peripheral are quietly building a sieve, not a book.
In volatile markets, the advisors who win aren't the ones with the best calls - they're the ones whose clients stay the course.
