The latest corporate deals, transactions and acquisitions in the North American wealth management industry.

MAI Capital Management
Cleveland, Ohio-based MAI Capital Management, a registered investment advisor, has acquired Winfield Associates. The deal adds talent to MAI’s financial planning and investment teams in Cleveland. 

Winfield, which was founded in 1997 by William Winfield Baker and his son, Christopher Baker, provides financial advice, investment portfolios and private wealth services. The firm works with individual investors, endowments and foundations, business owners and professionals, and retirees.

Christopher Baker is taking on the role of managing director and partner of MAI, and Mark Q Haley is assuming the role of managing director and partner of MAI. MAI is led by managing partner Rick Buoncore. 

This is MAI’s sixth acquisition since Galway Holdings, a leading financial services distribution company, completed its acquisition of MAI in September 2021. Earlier this year, MAI announced its acquisition of New York City-based Monarch Business & Wealth Management. Prior to that in 2021, MAI completed acquisitions in Maryland, North Carolina, Illinois, Ohio and Florida.

The acquisition, which closed on June 24, 2022, will increase assets under management by over $368 million. The financial and legal terms of the deal were not disclosed.