LWS is MAI’s 36th acquisition since 2018, and its fourth of 2024. 

MAI Capital Management, a US investment advisor, has agreed to buy LWS Wealth Advisors for an undisclosed sum.

Headquartered in Basking Ridge, New Jersey, LWS serves high net worth and ultra-HNW clients and families nationwide. The firm offers comprehensive financial planning, asset management, and family office services designed to simplify its clients' evolving and complex needs. The firm had $562 million in client assets under management at the time of the acquisition.

LWS is MAI’s 36th acquisition since 2018, and its fourth of 2024. 

The acquired firm will adopt MAI’s brand and receive the internal infrastructure that MAI extends to all acquired firms, including HR, operations, and marketing resources. As part of MAI, Lance Lipset, founder and managing principal of LWS, will assume the title of regional president.

“Since starting our business in 2012, we’ve had a singular focus on being a comprehensive partner to our clients,” said Lipset. “As LWS continues to grow, our decision to join MAI – an organization that shares our values – allows our team to double down on bespoke client service, tap into MAI’s backend capabilities, and expand our offerings in areas such as alternative investments.”

Founded by golfing legend Arnold Palmer and attorney Mark McCormack in 1973, MAI is headquartered in Cleveland, Ohio with offices across 13 US states.