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MAI Capital Management Acquires Hochman Cole Investment Advisors

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MAI Capital Management Acquires Hochman Cole Investment Advisors

The acquisition expands MAI's reach to the Greater Chicagoland area and underscores its commitment to providing personalized investment management and financial planning services

 

CLEVELAND – Dec. 6, 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 Hochman Cole Investment Advisors, Inc. (“Hochman Cole”). The acquisition establishes MAI’s presence in Chicago and supports its mission of providing personalized and holistic financial advice.

Based in Deerfield, Illinois, Hochman Cole provides retirement, financial planning and investment management services for high-net-worth individuals, families and business owners. Hochman Cole was founded in 2006 by Joel Hochman and Philip Cole. Both Hochman and Cole, along with Partner Michael Williams, and their entire staff will be joining MAI.

“Hochman Cole’s philosophy of client-centric advising mirrors our own approach. We are particularly excited to have Phil, Joel, Mike and their team join MAI and expand our presence into the Chicago area,” said Rick Buoncore, Managing Partner at MAI. “As we continue to grow, MAI remains committed to partnering with like-minded firms, like Hochman Cole, that enhance our capabilities and share our dedication to providing quality client service.”

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

Hochman and Cole added: “As we look to our future, we remain committed to providing superior services and customized planning for our clients. Aligning with MAI will allow us to optimize these efforts and enhance our relationships with current and future clients.”

“To achieve measurable growth in today’s landscape, RIA firms must remain nimble,” said John Hahn, Executive Chairman at Galway. “MAI continues to achieve its growth objectives by identifying the right professional partners who share its long-term vision and commitment to providing quality advice and service to its clients.”

The acquisition closed on Dec. 3, 2021 and will increase MAI’s assets under management by over $495 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 Cincinnati, OH, Ponte Vedra Beach, FL, Nashua, NH, Irvine, CA, Reston, VA, Baltimore, MD, Little Rock, AR, Naples, FL, New York City and St. Louis. As of Oct. 31, 2021, MAI’s assets under management totaled $12.5 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.