MAI Capital Management has begun the new year with another acquisition, this time adding Madison Wealth Management to its portfolio. Madison Wealth Management is a registered investment advisory firm with $1.4 billion in client assets. This marks MAI's 33rd acquisition since 2018, further solidifying its position as a leader in the industry.
In addition to the recent acquisition of R. Karras Asset Management & Planning, MAI's purchase of Madison Wealth Management expands its reach and enhances its presence in Ohio and Northern Virginia. Cincinnati, in particular, becomes one of MAI's major markets.
Madison Wealth Management, founded in 2000 and headquartered in Cincinnati, Ohio, offers a wide range of services to its clients, including financial planning, portfolio management, retirement and stock option planning, and trust and estate advice. With offices also in Leesburg, Va., and Bethesda, Md., Madison has become a trusted name in the industry.
According to Rick Buoncore, managing partner at MAI, the addition of Madison reflects the company's commitment to growth and community engagement. MAI looks forward to integrating their talented team and expanding their capabilities.
For Madison Wealth Management, joining forces with MAI provides access to greater resources and opportunities for growth. The partnership aligns with Madison's mission of delivering personalized wealth management services to clients and helping them achieve their financial goals. Co-Founder and President Jim McDermott expresses excitement over the collaboration and looks forward to the benefits it will bring to their clients.
As part of the deal, Jim McDermott and Ed Kuresman will assume the title of co-regional presidents at MAI. This transition reflects the seamless integration between the two firms and their shared vision for success.
While specific terms of the deal were not disclosed, MAI's acquisition of Madison Wealth Management closed on January 5th, 2023.
MAI Capital Management, a fee-based RIA based in Cleveland, ranks 27th on 's Top RIAs for 2023. With $18.8 billion in assets under management as of December 29th, MAI continues to establish itself as a leader in the industry. MAI is a subsidiary of Galway Holdings, a financial services company that also owns Epic Insurance Brokers & Consultants.