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MAI Celebrates 10th Anniversary - A Letter from the Managing Partner

 

Ten years ago, I made the smartest decision of my professional life in purchasing MAI.  A few years earlier, the firm had lost its legendary founder, Mark McCormack, and his estate decided to pursue a new future for the firm.  Since I had long been aware of the tremendous clientele and professional team at MAI, I jumped at the opportunity to be part of the next chapter of MAI's storied history.

The new MAI began in January 2007 with just over $900 million in managed assets and 50 quality employees who had an exceptional focus on serving the needs of our clients.  With this solid foundation in place, my goal was to take MAI to a new level and become one of the premier wealth management providers in the industry.

The first challenge as a new firm arrived shortly thereafter as the Great Recession of 2008-2009 created unexpected volatility in the financial markets and significant headwinds for our business.  Through careful planning, our firm succeeded in "not letting a good crisis go to waste" and emerged from the downturn with stronger client relationships, even more attentive client service levels, and a new appreciation for investment strategies that added staying power to client portfolios.  Over the past ten years we continued to refine our client experience, invest in critical technology and security infrastructure, and build out our distribution of MAI services on a national level.  Today, I am proud to say we have grown to over $4 billion in client assets under management and advisement and we now employ 90 associates who are dedicated to serving your unique financial needs and objectives.

Whether you have been a client for one or 40 years, I thank you for your friendship, support, and trust, without which the past ten years of success would not have been possible.  In the decade ahead, MAI is committed to becoming a better firm in every respect to ensure that you and your family receive the care, attention, and value of a premier wealth management service provider.

With my deepest appreciation,

 

 

Richard J. Buoncore, Managing Partner, MAI Capital Management