Galway Insurance Holdings, a San Francisco-based financial services distribution firm, has acquired MAI Capital Management, a Cleveland-based registered investment adviser managing $9.2 billion through several offices around the country.
MAI’s executive team, which is led by Rick Buoncore, will remain, with MAI adding “financial and wealth management services that complement existing business relationships within Galway’s EPIC Insurance Brokers & Consultants unit and other areas of specialization across the company,” Galway said in a release.
Wealth Partners Capital Group took a stake in MAI in 2017, and since then MAI has done 12 acquisitions, according to the press release. Wealth Partners Capital Group will maintain its stake in the firm.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
