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.
New survey reveals heightened investor concern over market volatility, retirement readiness, and the impact of tariffs on living costs.
Stifel – so far - is on the hook for more than $166 million in damages, legal fees and settlements in investor complaints involving Roberts, a 35-year industry veteran.
Consolidation continues in US wealth management industry.
Tech company democratizes access to US trading infrastructure.
RBC Wealth Management's latest move in New York adds an elite eight-member team to its recently opened Westchester office.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.