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MAI Capital Management Announces Deal to Add John D. Dovich & Associates, LLC to Partnership

Cincinnati financial advisory firm brings approximately $600 million in assets and new insurance services

 

CLEVELAND – July 1, 2019 – MAI Capital Management, LLC (“MAI”), an independent registered investment adviser specializing in comprehensive investment and financial planning for high-net-worth individuals and families, announces its partnership with John D. Dovich & Associates, LLC (“Dovich & Associates”). The deal, which includes both wealth management and insurance services, establishes an MAI location in Cincinnati while forming the basis of MAI Insurance Solutions, a new entity wholly owned by MAI, devoted to planning-based insurance services.

John Dovich, Founder of Dovich & Associates, launched the firm in 1987, and has since overseen both the insurance and wealth management businesses, providing clients with personalized investment solutions. Dovich will become Regional Managing Director of the Cincinnati office, National Head of MAI Insurance Solutions and Partner of MAI. Over 10 members of Dovich & Associates will join him at MAI, including Bill Bruns and Tom Lalley, who will each become a Managing Director, and Partner, at MAI.

“For over three decades, John and his team at Dovich & Associates have assisted clients in the management of their financial affairs,” says Rick Buoncore, Managing Partner at MAI. “We could not be more excited to have partners as talented as John, Bill and Tom join MAI, delivering comprehensive wealth management and insurance offerings to the firm’s private clients.”

“MAI recognized excellence in our wealth management and insurance businesses, as well as our uncommon drive to offer timely, innovative and personalized service,” says Dovich. “With our expertise and MAI’s scale, we plan to upgrade our client experience.”

“The addition of Dovich & Associates both broadens MAI’s geographic reach and expands its service capabilities,” says John Copeland, Managing Partner at Wealth Partners Capital Group (“WPCG”). “The launch of MAI Insurance Solutions under John Dovich’s leadership will enhance MAI’s client offering.”

This is MAI’s fourth partnership since taking a minority investment from WPCG, a financial services holding company, in July 2017. It also marks the firm’s second regional expansion following the acquisition of MTX Wealth Management, LLC. MAI also acquired the wealth management division of Calfee Financial Advisors last year, and the wealth management division of CCI Financial Group Inc. in April.

The deal closed on June 30, 2019 and will increase MAI’s assets under management by approximately $600 million. Financial and legal terms of the deal were not disclosed.

 

About MAI Capital Management

MAI Capital Management (“MAI”) is a fee-based registered investment adviser and wealth management firm based in Cleveland, OH, with additional offices in Columbus, OH, Ponte Vedra Beach, FL, Nashua, NH, Irvine, CA and Reston, VA. The firm manages and advises approximately $5.4 billion in assets as of March 31, 2019, and provides comprehensive investment management and planning services to high-net-worth individuals, families and athletes. MAI is led by Managing Partner Rick Buoncore.

 

About Wealth Partners Capital Group

Wealth Partners Capital Group (“WPCG”) is a financial services holding company, which has partnered with MAI Capital Management (“MAI”). WPCG assists MAI by identifying and integrating like-minded registered investment advisers who are seeking access to expanded business capabilities, strategic growth and customized transition solutions. The WPCG management team is led by partners John W. Copeland, Rich Gill and Sean Bresnan. For more information, please visit www.wealthpcg.com.