MAI Capital Adds $1.2B Fee-Only Advisor Team
The acquisition is MAI Capital’s 40th since 2018 and its eighth of 2024.
The high-net-worth specialist registered investment advisor MAI Capital Management has acquired Halpern Financial, a fee-only RIA with offices in Ashburn, Virginia, and Rockville, Maryland.
The firm, which was founded by Ted Halpern in 1991 and has $1.2 billion in assets under management, will adopt MAI’s brand identity and internal infrastructure, including human resources, operations and marketing. As part of MAI, Ted Halpern will take on the title of regional president.
Terms of the transaction were not disclosed, but the deal is MAI’s 40th acquisition since 2018 and its eighth of 2024. In January, MAI acquired $1.4 billion Madison Wealth Management, which has a strong presence in northern Virginia, making this its second expansion in the region this year.
Rick Buoncore, executive chairman at MAI, cited the Halpern team’s passion for managing clients’ financial lives and its “longstanding success in valuing, uplifting and serving their clients” as key drivers of the acquisition.
“MAI is a perfect match for our client-first culture and mindset,” Halpern said in a statement. “This move allows us a clear pathway to deliver enhanced services and expertise to the individuals and families we serve across all asset levels, using MAI’s additional resources and unique capabilities.”
MAI is headquartered in Cleveland, with offices across 16 U.S. states and a team of over 450 people. Its assets under management were $23.6 billion as of the end of June.
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