M and A
Deals Of The Day: The Latest In Wealth Management M&A – MAI Capital Management
The latest mergers, acquisitions and other corporate actions in the wealth management sector.
MAI Capital Management
MAI
Capital Management, a registered investment advisor (RIA),
has continued its run of M&A transactions with the
acquisition of LOC Investment
Advisers, effective February 13. LOC – a fee-only RIA with
offices in Hurricane, West Virginia, and Jupiter,
Florida – manages about $759 million in assets
under management (AuM) and serves more than 800 households.
The terms of the transaction were not disclosed.
Founded in 1981 by Robert O’Dell and David Lanham, LOC is the longest-tenured RIA operating in West Virgina, the firm said in a statement. Built on a commitment to prioritizing clients’ interests, LOC was also one of the first firms in the region to move to a fee-only model. That early commitment to objective advice has laid the foundation for more than four decades of client trust and multi-generational relationships.
LOC provides customized investment management and financial planning services for individuals, families and business owners across more than 30 states. The firm serves a diverse client base, including entrepreneurs, professionals, energy executives and contractors across infrastructure-related industries.
“LOC embodies the same client-first philosophy that defines MAI,” said Rick Buoncore, chairman and CEO of MAI. “By joining MAI, their advisors gain access to expanded investment and planning resources, while preserving the culture and commitment to personalized service that have driven their success for more than 40 years.”
O’Dell and Lanham will remain involved in the business following the integration, ensuring a transition and continuity of service for clients while supporting a succession plan designed to sustain the firm’s long-term legacy. As part of the transaction, LOC managing director Sean Mayberry will serve as senior wealth advisor and team leader when he takes responsibility for guiding the firm’s advisors and client relationships.
The latest purchase continues a run of acquisitions by MAI. LOC is MAI’s 20th acquisition since January 2024. Most recently, it acquired a $366 million firm, Court Place Advisors for an undisclosed sum. Founded in 1998, Court Place Advisors is based in Ellicott City, Maryland.
As of January 1, 2026, MAI and its affiliated advisor have 40 offices across the US, and a team of more than 675 people who manage and advise on $72.6 billion in total assets.