MAI Capital Expands to $72.B AUM with LOC Investment Advisers Deal
MAI Capital Management has acquired LOC Investment Advisers, a fee-only RIA overseeing approximately $759 million in assets and serving more than 800 households across 30 states. Financial terms were not disclosed.
Founded in 1981 by Robert O’Dell and David Lanham, LOC is the longest-tenured RIA operating in West Virginia and one of the first in the region to adopt a fee-only advisory model. The firm provides customized investment management and comprehensive financial planning to individuals, families and business owners, including entrepreneurs and energy-sector executives.
“LOC embodies the same client-first philosophy that defines MAI,” said Rick Buoncore, chairman and CEO of MAI. “Bob, Dave, Sean and their team have built an established planning-driven firm with deep roots and enduring relationships, including some spanning five generations.”
O’Dell and Lanham will remain active in the business post-integration. LOC Managing Director Sean Mayberry will serve as senior wealth advisor and team leader.
The acquisition expands MAI’s presence in West Virginia and Florida and marks its 20th completed transaction since January 2024. The Cleveland-based RIA now operates 40 offices with more than 675 employees nationwide. As of January 1, 2026, MAI and its affiliated advisor Evoke Advisors manage and advise on $72.6 billion in total assets.
The LOC deal follows the recent acquisitions of Lowe Wealth Advisors (LWA), a Columbia, Maryland-based, family-led registered investment advisor overseeing approximately $527 million in assets; $366 million Ellicott City, MD-based Court Place Advisors and Fort Myers, FL-based Liberty Private Client, which manages roughly $245 million in client assets.
Pictured l to r: Robert O’Dell and Rick Buoncore
Connect Money is spotlighting rising stars who have made a valuable contribution to the wealth management industry. Based on your nomination, we will recognize professionals who have significantly influenced both the workplace and community. The nomination deadline is March 4. Click here to submit your nominations and help us highlight the next generation of wealth management leaders.
