M and A
Deals Of The Day: The Latest In Wealth Management M&A – MAI Capital Management, Wiener Financial Management
The latest deals and transactions in and around North American wealth management.
MAI Capital Management, Wiener Financial
Management
MAI
Capital Management, based in Cleveland, Ohio, has bought
Wiener Financial Management, a business based in the Washington
DC area.
The acquisition, the financial terms of which were not disclosed, adds about $120 million in assets under management.
Founded in 1995 by Bruce Wiener, WFM is headquartered in Potomac, Maryland. The business provides comprehensive financial and retirement planning and investment management services for high net worth individuals and families. Prior to starting his advisory practice, Wiener practiced law in the nation’s capital for 14 years. In his role at MAI, he will assume the title of senior wealth advisor and managing director.
Besides its Cleveland office, MAI has 22 other offices; as of March 31 it oversaw a total of $16.4 billion of client assets. In 2021 Galway Holdings bought MAI.
