On December 9, 2024, MAI Capital Management, LLC announced its acquisition of Carmichael Hill & Associates, Inc.
MAI Capital Management, LLC (“MAI”) announced on December 9, 2024, its acquisition of Carmichael Hill & Associates, Inc. (“Carmichael Hill”). Carmichael Hill will adopt MAI’s brand identity and receive its internal infrastructure, including HR, operations, and marketing resources. MAI principal Jim Stewart will take on the title of Sr. Wealth Advisor & Team Leader at MAI. Further terms of the deal were not disclosed.
MAI, based in Cleveland, Ohio, is a registered investment adviser and wealth management firm specializing in investment and financial planning for high-net-worth individuals and families. As of September 2024, MAI had $30.3 billion in assets under management.
Carmichael Hill, based in Gaithersburg, Maryland, is a financial services firm offering tailored retirement planning and investment management services. As of September 2024, Carmichael Hill had approximately $350 million in assets under management. Turkey Hill Management advised Carmichael Hill on the transaction.
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