History
Originally established as Investment Advisors International, Inc. in 1973, IAI was an affiliate of International Management Group (IMG), the world’s premier sports and lifestyle management and marketing firm founded by Mark McCormack. IAI originally served the needs of athletes who were looking for diversified financial management.
Both IAI and IMG evolved from a handshake deal between Arnold Palmer and Mark McCormack in which Palmer accepted McCormack's offer to handle his business affairs so that Palmer could concentrate on golf. Over the years, IAI expanded its client service to include not only athletes but also corporate executives and wealthy families.
In 2000, McCormack Advisors International, LLC was formed to succeed IAI’s business as a joint venture between IAI and a major integrated financial institution. In 2002, the joint venture was dissolved and the firm returned to its roots as a provider of independent financial advice to its clients. McCormack Advisors International became fully independent of IMG in 2004.
On January 31, 2007, BC Investment Partners, LLC, also independently owned, acquired McCormack Advisors International LLC and renamed the merged firm MAI Wealth Advisors, LLC ("MAI"). In 2014, MAI Wealth Advisors, LLC changed its name to MAI Capital Management, LLC to reflect the firm's growth in markets served and its ability to discover and innovate targeted solutions to meet clients' needs. MAI still holds true to the values of its history of providing reliable service to unique clients with complex financial lives.
On July 10, 2017, MAI formed a partnership with Wealth Partners Capital Group, LLC ("WPCG"), a financial services holding company, to facilitate MAI's growth strategy. The partnership underscores MAI's client-centric approach and culture.
In September 2021, MAI was acquired by Galway Holdings, LP (“Galway”), a financial services distribution company. Galway includes EPIC Insurance Brokers & Consultants and a diversified brokerage distribution and underwriting platform, with a focus on data analytics, technology transformation and innovative risk-sharing solutions. The acquisition positions MAI for further growth and propels its ongoing M&A plans.