MAI Capital Management, a Cleveland-based registered investment adviser managing $11.8 billion, has acquired Marriottsville, Maryland-based Geier Asset Management, which manages $390 million and does business as Winpoint Financial.
Geier Asset Management was founded in 1999 by Joseph Geier, who continues to lead the firm along with Brian Woods. Both Winpoint Financial and MAI specialize in serving professional athletes.
MAI said in a release that it expects that the previously announced sale of a majority stake in the firm to Galway Insurance Holdings will close by the end of the month.
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.
Asset managers are racing to bring private market products to retirement plans, but cost and liquidity concerns linger.
Treasury's latest tax-exemption crackdown on private schools lands in the wake of a separate push to restrict refundable credits for some immigrant filers.
Workforce trust measures predicted which companies came out ahead during COVID-19. The same dynamic may now be playing out across the AI transition — and the data suggests the spread could be just as wide.
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
