MAI Capital Management is making moves in the Eastern US as it acquires a storied fee-only independent RIA.
On Monday, MAI announced its acquisition of Halpern Financial, which boasts $1.2 billion in assets under management as of September 30 and locations across Virginia, Maryland, and Florida. Terms of the deal were not disclosed.
Founded in 1991 by Ted Halpern, Halpern Financial is a fee-only, independent registered investment advisor with offices in Ashburn, Virginia, and Rockville, Maryland, and a presence in Naples, Florida.
“We were drawn to the Halpern team because of their passion for not only managing their clients’ money, but also providing them with the financial education they need to thrive for the long term,” Rick Buoncore, executive chairman at MAI said in a statement. “Ted and his team have longstanding success in valuing, uplifting, and serving their clients, and we look forward to partnering with them to continue that work.”
The acquisition will see Halpern Financial adopt the MAI brand, while gaining access to MAI’s internal infrastructure, including human resources, operations, and marketing support. Ted Halpern, who sees the deal as " a perfect match for our client-first culture and mindse," will take on the role of regional president under the new arrangement.
“When making this decision, we were looking for a like-minded partner to help bring our business into its next phase of growth,” Halpern said.
This acquisition marks MAI's 40th since 2018 and its eighth of 2024. Its deal streak this year has included $1.4 billion Madison Wealth Management in Virginia, $562 million AUM LWS Wealth Advisors in New Jersey, and $321 million Harbor Wealth Management, a woman-owned and operated firm in Colorado.
MAI Capital Management, founded in 1973 and headquartered in Cleveland, Ohio, manages $23.6 billion in client assets across 16 US states as of June 30, 2024.
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
