Joining Forces: MAI Capital Management Expands with Halpern

MAI Capital Management Welcomes Halpern Financial

MAI Capital Management, a recognized name in the investment advisory sector, has taken a significant step by acquiring Halpern Financial. This acquisition marks a strategic move aimed at expanding their reach and enhancing service offerings for high-net-worth individuals and families.

Strengthening Client Services through Collaboration

MAI Capital Management expresses its excitement about the union with Halpern Financial. The firm specializes in comprehensive financial planning and investment strategies that prioritize the needs of affluent clients. According to Rick Buoncore, the Executive Chairman at MAI, the driving force behind this collaboration stems from Halpern's commitment to effective money management and financial education. He stated, “We were drawn to the Halpern team because of their passion for not only managing their clients’ money but also providing them with the financial education they need to thrive for the long term.”

A Rich History with a Forward-Looking Vision

Founded in 1991 by Ted Halpern, Halpern Financial has built a robust reputation, with $1.2 billion in client assets under management. With strategic offices located in Ashburn, Virginia, Rockville, Maryland, and Naples, Florida, the firm has established a firm footing in the investment advisory landscape.

Operational Synergies and Growth Opportunities

As part of the acquisition, Halpern will adopt the MAI brand identity while integrating comprehensive internal infrastructure resources, including marketing, operations, and human resources. Ted Halpern will transition into the role of Regional President, ensuring continuity in leadership and vision. Halpern noted, “When making this decision, we were looking for a like-minded partner to help bring our business into its next phase of growth.”

Enhanced Client-Focused Services

This merger is expected to pave the way for improved services and expertise for clients across various asset levels. The additional resources from MAI will enable Halpern to enhance its offerings significantly. It’s a perfect match between two organizations that share a client-first culture.

The Journey of MAI Capital Management

MAI Capital Management is not a newcomer to the wealth management scene. Established in 1973, the firm has evolved into a leader providing tailored advice and strategic planning. With over 450 employees and offices across 16 states, MAI oversees approximately $23.6 billion in client assets as of the mid-year 2024. The organization thrives on empowering clients to simplify, protect, and grow their hard-earned wealth.

Future Prospects Following Acquisition

This acquisition marks MAI’s 40th purchase since 2018 and highlights its aggressive growth strategy. Notably, in early 2024, MAI acquired Madison Wealth Management, reinforcing their commitment to expanding their presence in key regions.

Frequently Asked Questions

What is the significance of MAI Capital Management's acquisition of Halpern Financial?

This acquisition is significant as it brings together two firms with a shared focus on client-oriented services in wealth management, enhancing their ability to serve high-net-worth clients.

When was Halpern Financial acquired by MAI Capital Management?

Halpern Financial officially became part of MAI Capital Management effective October 4, 2024.

Who is the founder of Halpern Financial?

Ted Halpern founded Halpern Financial in 1991 and has been pivotal in establishing the firm's independent advisory practice.

What is the mission of MAI Capital Management?

MAI Capital Management aims to empower clients to simplify, protect, and grow their wealth through tailored advice and integrated solutions.

How much client assets does MAI Capital manage?

As of June 30, 2024, MAI Capital Management manages approximately $23.6 billion in client assets.

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