MAI Capital Acquires Connecticut RIA Saybrook Wealth Group

MAI Capital Management has acquired Saybrook Wealth Group, a Connecticut-based registered investment advisor overseeing approximately $273 million in assets under management, as the firm continues to scale its national footprint.

Terms of the transaction were not disclosed. Founded in 2007 by Stephen Norton, Saybrook provides investment management and financial planning services to more than 300 households, with a focus on high-net-worth clients, including executives, retirees and commercial construction professionals. The firm also offers specialized planning for families with special needs dependents.

Norton will join MAI as a senior wealth advisor and continue serving clients, while Saybrook will transition to MAI’s brand and platform.

“What stood out to us about Stephen and the Saybrook team is how intentionally they’ve grown their practice around listening first and planning second,” said Rick Buoncore, chairman and CEO of MAI. “Their approach is deeply personal, highly customized and rooted in long-term relationships.”

The integration will provide Saybrook access to MAI’s national infrastructure, including capabilities across investment management, financial planning, tax, estate and family office services, supported by more than 150 specialists.

“Joining MAI allows me to focus my efforts where I can have the greatest impact—working directly with clients,” Norton said.

The acquisition became effective May 29 and follows MAI’s recent purchases of Dallas-based Service Academy Capital Management, which oversees approximately $733 million in assets, and West Virginia-based LOC Investment Advisers, with roughly $759 million in client assets.

As of April 30, MAI reported approximately $77.3 billion in client assets across more than 40 U.S. offices.

Pictured: Rick Buoncore, Chairman and CEO of MAI