MAI Capital Acquires More Than $1B of Assets in 2 Days

MAI Capital Management LLC, a registered investment adviser, acquired two advisory firms last week totaling approximately $1.04 billion in assets under management—California-based OG Private Wealth and Atlanta-based Waypoint Wealth Counsel LLC. The acquisitions were official as of August 14.

OG Private Wealth has approximately $551 million in AUM and serves more than 300 households nationwide. It is a fee-only RIA with offices in Chico and Hermosa Beach, California.

Founded by brothers Ryan and Mike O’Donnell, OG Private Wealth provides investment management and wealth planning, including estate planning, pre-sale planning and tax-efficient strategies.

Waypoint Wealth Counsel manages approximately $490 million in AUM and serves more than 100 households. Founded in 2014 by Brad McGrew and Matthew Woods, Waypoint serves affluent and ultra-high-net-worth individuals and families, with a particular focus on entrepreneurs, business owners, executives and multigenerational families

Woods and McGrew will remain in place leading Waypoint, serving as market leaders for MAI and ensuring continuity of service for clients.

MAI has 42 offices and more than 700 employees nationwide, and as of June 30 had $73.8 billion in AUM and $6.6 billion in assets under advisement. Its services include financial planning, investment management, retirement planning, tax services, family office capabilities and institutional consulting for high-net-worth, ultra-high-net-worth and family office clients.

Terms of the two transactions were not disclosed.

The Carlyle Group Inc., a global investment firm, acquired a majority stake in MAI in March at a valuation of more than $2.8 billion. Carlyle first invested in MAI (originally McCormack Advisors International) in 2021 through its investment in Galway Holdings, which had acquired MAI that year.

Carlyle also acquired a minority interest in Prime Capital Financial this month. Its current retirement-retired investments include a minor growth investment in CAPTRUST added in 2023.