MAI Capital Management Acquires $490M RIA in Atlanta

MAI Capital Management has added an Atlanta-based registered investment advisor firm, which manages roughly $490 million in total client assets. 

Waypoint Wealth Counsel, established in 2014, is led by founders Brad McGrew and Matthew Woods and offers financial planning, investment management, retirement planning, portfolio management, and financial advisory services to over 100 client households.  

Waypoint Wealth Counsel also specializes in providing exposure to alternatives, including through two proprietary private investment funds. 

Following the acquisition, Woods and McGrew will assume the role of market leaders at MAI Capital, the RIA stated. 

“Atlanta is home to a growing concentration of entrepreneurs, executives and generational wealth, making sophisticated, full-service wealth management increasingly essential for the families and business owners we support,” Woods said. 

The acquisition marks one of the largest deals for MAI Capital, after the RIA recently closed its acquisition by investment giant Carlyle Group in June, which was valued at more than $2.8 billion. 

MAI’s latest addition marks MAI Capital’s fifth transaction for the year, a company spokesperson confirmed to Connect Money. 

Specific terms of the transaction, which closed on August 14, were not disclosed. 

The deal comes shortly after MAI Capital acquired Connecticut-based RIA Saybrook Wealth Group, which oversees about $273 million in assets under management. 

MAI Capital Management oversees $80.4 billion in total assets, including $73.8 billion under management and $6.6 billion under advisement as of June 30.