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MAI Acquires Queens Oak Advisors

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MAI Capital Management Acquires Queens Oak Advisors

The acquisition develops MAI's presence within the Greater Charlotte region and adds to MAI's holistic financial planning and asset management expertise

 

CLEVELAND – Dec. 13, 2021 – MAI Capital Management, LLC (“MAI”), a registered investment adviser specializing in comprehensive investment and financial planning for high-net-worth individuals and families, has acquired Queens Oak Advisors (“QOA”). The acquisition develops MAI’s presence in the Greater Charlotte region and further expands the firm’s holistic financial planning and asset management expertise.

Founded in 2009, QOA has steadily grown through their tailored approach toward working with clients. QOA offers comprehensive financial planning services, as well as estate planning, retirement planning, asset allocation and tax planning, among others. The firm also provides planning solutions and investment products for high-net-worth and institutional clients. Leila Evans will assume the role of Regional President of Charlotte and Senior Managing Director, while Deems May will take on the role of Director of Business Development.

In 2013, QOA launched a women’s initiative to help empower women to further their involvement in their financial affairs. This initiative is one that closely aligns with MAI’s client philosophy and will be adapted and expanded across the firm. May, a former NFL player and NFL Players’ Association Representative, will join the rapidly growing MAI Sports + Entertainment division. Both Evans and May bring a wealth of experience and unique insight that complement the MAI team of advisors.

“We are thrilled to expand into Charlotte and work with Leila, Deems and their team,” said Rick Buoncore, Managing Partner at MAI. “QOA is respected within the community for their dedication to improving the financial lives of their clients, which mirrors the client-first approach here at MAI.”

This is MAI’s third acquisition since Galway Holdings (“Galway”), a leading financial services distribution company, completed its acquisition of MAI in September 2021. This partnership positions MAI for ongoing and strategic growth via M&A and organic activity, and broadens its client service offerings. Recently, MAI announced its acquisitions of Hochman Cole Investment Advisors, based in the Chicagoland area; and Storey & Associates, located in North Canton, Ohio. Earlier this year, MAI acquired HW Financial Advisors and the wealth management division of Ownership Advisors, both based in the Greater Cleveland area; along with Naples, Florida-based MWM Investment Consulting and Baltimore-based Geier Asset Management.

Evans added: “Aligning with MAI allows us to optimize our efforts as we remain committed to providing superior services and customized planning for our clients. Looking to the future, the MAI team gives us an opportunity to bolster our financial planning and asset management expertise.”

“As the options for wealth management continue to expand, it has become increasingly important to maintain a client-focused philosophy,” said John Hahn, Executive Chairman at Galway. “MAI continues to highlight its commitment to growth by partnering with firms like Queens Oak that share the same vision for client service and success.”

The acquisition closed on Dec. 10, 2021 and will increase MAI’s assets under management by over $558 million. Financial and legal terms of the deal were not disclosed.

 

About MAI Capital Management

MAI Capital Management, LLC (“MAI”) is a fee-based registered investment adviser and wealth management firm based in Cleveland, with additional offices in Chicago; Cincinnati; Ponte Vedra Beach, Florida; Nashua, New Hampshire; Irvine, California; Reston, Virginia; Baltimore; Little Rock, Arkansas; Naples, Florida; New York City and St. Louis. As of Nov. 30, 2021, MAI’s assets under management totaled $12.2 billion. The firm also provides comprehensive investment management and planning services to high-net-worth individuals, families and athletes. MAI is led by Managing Partner Rick Buoncore.

 

About Galway Holdings

Galway Holdings, LP (“Galway”) is a financial services distribution company. It includes EPIC Insurance Brokers & Consultants and a diversified brokerage distribution and underwriting platform, with a focus towards data analytics, technology transformation, and innovative risk sharing solutions.