MAI to Acquire HW Financial

INVESTMENT MANAGEMENT DEALS BLOG

February 12, 2021

On January 26, 2021, MAI Capital Management, LLC announced it will acquire HW Financial Advisors.

Under the terms of the transaction, MAI Capital Management, LLC (“MAI”) will acquire HW Financial Advisors (“HWFA”). HWFA’s president, Stephen Rudolph, will become MAI’s Managing Director. The deal, subject to customary closing conditions, is expected to close by the end of the first quarter of 2021. Further terms of the deal were not disclosed.

MAI, based in Cleveland, Ohio, is a registered investment advisor, specializing in comprehensive financial and investment planning for high net worth individuals and families. As of December 31, 2020, MAI had $9.1 billion in assets under management.

HWFA, based in Beachwood, Ohio, is an affiliate of accounting firm HW&Co. HWFA delivers comprehensive wealth management, goal-based planning, and innovative investment solutions for clients. As of December 31, 2020, HWFA had over $700 million in assets under management.

To read the press release: please click here.