MAI Capital Management, a Cleveland, Ohio-based registered investment adviser managing $14.4 billion, has acquired Winfield Associates, an RIA firm managing over $368 million also based in Cleveland.
Financial terms weren't disclosed.
The acquisition adds talent to MAI’s financial planning and investment teams at its headquarters in Cleveland.
Winfield was founded in 1997 by William Winfield Baker and his son, Christopher “Biff” Baker. The firm’s key executives will join MAI, which is a unit of Galway Holdings. Biff Baker assumes the role of managing director and partner of MAI, and Mark Q. Haley also assumes the role of managing director and partner.
This is MAI’s sixth acquisition since Galway Holdings completed its acquisition of MAI in September 2021, MAI Capital said in a press release Tuesday.
The financial advice industry has been facing inquiries into its cash sweep programs for years now.
Investor money allegedly went to strip clubs, exotic cars, and landscaping
Procyon adds $415 million in assets under management in New Jersey while Savant picks up a $213 million Southern California planning firm
With a growing number of real estate-rich Baby Boomers aging into retirement, some advisors may be failing to consider all the options available for those clients' assets.
Cornerstone Advisors study reveals compliance bottlenecks stall campaigns weeks after customer opportunities close.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
