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.
Originally established as Investment Advisors International, Inc. and evolved from a handshake between Arnold Palmer and Mark McCormack
McCormack Advisors becomes independent of IMG
Acquired by BC Investment Partners, LLC renamed firm MAI Wealth Advisors, LLC
MAI adopts and implements a single global investment performance standard ("GIPS")
MAI acquires a majority interest in CF Managers, LLC, owner of Clutterbuck Capital Management, LLC
Firm renamed from MAI Wealth Advisors, LLC to MAI Capital Management, LLC
MAI expands office to west coast - Irvine, California
MAI forms partnership with Wealth Partners Capital Group, LLC ("WPCG"), a Florida-based financial services holding company, to facilitate ongoing growth via acquisition
February 2018 - MAI acquires the wealth management division of Calfee Financial Advisors, Inc., expanding its presence in the greater Cleveland area
April 2019 - MAI acquires the wealth management division of CCI Financial Group, Inc.
June 2019 - MAI acquires MTX Wealth Management, LLC, expanding its footprint to the greater Washington, D.C. region
July 2019 - MAI acquires John D. Dovich & Associates, LLC, establishes a location in Cincinnati, Ohio
December 2019 - MAI acquires Rodman Capital Management
December 2019 - MAI acquires J.M. Hartwell LP, extending its reach to New York City
May 2020 - MAI acquires Grisanti Capital Management, LLC, building on its expansion to New York City
September 2020 - MAI launches MAI Sports + Entertainment, elevating MAI's 45-year history of providing comprehensive wealth management services to athletes and entertainment professionals
November 2020 - MAI acquires Greenway Family Office, LLC, extending its reach to St. Louis
December 2020 - MAI acquires Smith Capital Management, Inc., establishes an office in Little Rock, Arkansas
February 2021 - MAI acquires HW Financial Advisors, adding financial planning expertise in greater Cleveland region
April 2021 - MAI acquires the wealth management division of Ownership Advisors, expanding its wealth management team and enhancing its presence in the Greater Cleveland area
April 2021 - MAI acquires MWM Investment Consulting, expanding its footprint in Florida and enhancing its investment management capabilities
September 2021 - MAI acquires Geier Asset Management, strengthening its mid-Atlantic footprint while enhancing its delivery of comprehensive financial planning and wealth management services
September 2021 - MAI is acquired by Galway Holdings, LP (“Galway”), a financial services distribution company, to support future growth and propel ongoing M&A plans
September 2021 - MAI acquires Storey & Associates, expanding its presence within the Greater Cleveland region and adding to its financial planning and asset management expertise
December 2021 - MAI acquires Hochman Cole Investment Advisors, expanding its reach to the Greater Chicagoland area and underscoring its commitment to providing personalized investment management and financial planning services
December 2021 - MAI acquires Queens Oak Advisors, developing its presence within the Greater Charlotte region and adding to its holistic financial planning and asset management expertise
December 2021 - MAI acquires Investment Planning Associates, expanding its presence in the Mid-Atlantic region
December 2021 - MAI acquires Monarch Business & Wealth Management and Regal Wealth Management, expanding its nationwide presence while adding to its Sports + Entertainment Division
June 2022 - Winfield Associates and MAI Capital announce their partnership
July 2022 - Joe McLean and Intersect Capital Join in Growth of MAI Capital Management Cleveland, OH and San Ramon, CA
August 2022 - Pareto Wealth Management and MAI Capital are excited to announce their partnership
August 2022 - MAI Capital Management hires Dexter L. James. The partnership adds additional financial planning insights and continues to strengthen MAI's presence in the Cleveland area.