$23.6B RIA MAI strengthens C-suite with former Merit exec

RIA firm MAI Capital Management is supercharging its plans for strategic growth with two new additions to its executive leadership team.

On Monday, the firm named Philip Noftsinger as its new chief financial officer and JP Pattinson as its chief digital and technology officer.

Noftsinger brings more than 30 years of experience in accounting and finance to his new role, where he will oversee corporate accounting, financial reporting, and financial planning and analysis. Prior to joining MAI, Noftsinger was CFO at B&W Solar and spent nearly two decades with CBIZ as vice president of finance and corporate controller.

Pattinson, who will lead MAI’s technology strategy and infrastructure, previously held several key positions at Merit Financial Advisors, including 12 years as wealth advisor and, most recently, seven years as the firm's vice president of technology. In his new role, Pattinson will focus on optimizing MAI’s digital systems to enhance both client and advisor experiences.

Jim Kacic, managing partner and chief operating officer at MAI, praised Noftsinger and Pattinson's "ambition and character" and highlighted how their "deep expertise in their respective fields" can help the firm continue to advance its business.

“Phil is an experienced executive leader with a deep financial background and proven track record leveraging strategic planning, operations, analytics, and accounting to drive business decisions," Kacic said in a statement Monday. "JP’s distinct mix of advisory and technology experience will ensure that we continue to adopt and integrate the latest improved technologies, without disruption, for the ultimate benefit of our advisors and their clients.”

This year, MAI has made several major acquisitions, including its March deal for $562 AUM firm in New Jersey and its purchase of a $1.4 billion AUM firm to kick off 2024.

Monday's announcement builds on the firm's late August move to realign its leadership. Among other changes and promotions, Rick Buoncore was transitioned to the new role of executive chairman while Joe McLean, John Zaller, Kurt Nye and Jim Kacic were placed in managing partner roles across MAI's various divisions.

Founded in 1973, Cleveland-based MAI Capital Management oversees $23.6 billion in client assets as of June 2024 and operates across 16 states.