MAI Capital Management Acquires Investment Planning Associates

Carlyle acquires majority stake in MAI Capital Management

March 31, 2026

Financial Services

Carlyle has agreed to acquire a majority stake in Cleveland-based registered investment adviser MAI Capital Management, valuing the firm at more than $2.8 billion. The transaction deepens Carlyle’s involvement in MAI following its initial 2021 investment via Galway Holdings, with Galway Holdings, Harvest Partners, and Oak Hill Capital exiting. The deal closed effective June 4, 2026, with MAI employees retaining a large minority stake and MAI continuing to operate autonomously under its leadership team.

MAI Capital Management Acquires R. Karras Asset Management & Planning

January 4, 2024

Financial Services

MAI Capital Management, a Cleveland-based registered investment adviser, has acquired R. Karras Asset Management & Planning, adding approximately $110 million of client assets under management. The deal will fold Karras into MAI's brand and infrastructure, expanding MAI's capabilities (tax and estate planning, alternative investing) and enabling founder Robert Karras to continue as Senior Wealth Advisor and Managing Director.

MAI Capital Management Acquires Prime Investment Advisors

September 27, 2022

Financial Services

Cleveland-based MAI Capital Management acquired Bethesda-based Prime Investment Advisors, adding approximately $140 million in assets under management and expanding MAI's Mid-Atlantic footprint. Founder Stephen Polan will join MAI as Senior Wealth Advisor and Managing Director; the deal is MAI's ninth since Galway Holdings acquired MAI in 2021.

MAI Capital Management Acquires Winfield Associates

June 24, 2022

Wealth Management

MAI Capital Management (MAI) has acquired Winfield Associates, a financial planning and wealth management firm, in a deal that closed June 24, 2022. The acquisition adds more than $368 million of assets under management to MAI, brings Winfield's key executives into MAI’s leadership team, and expands MAI’s presence in the Cleveland market as part of its ongoing M&A growth strategy under Galway Holdings.

MAI Capital Management Acquires Storey & Associates

October 4, 2021

Financial Services

MAI Capital Management, a Cleveland-based registered investment adviser, has acquired Storey & Associates, a North Canton, Ohio financial planning and asset management firm. The deal, which closed Sept. 30, 2021, adds approximately $230 million in assets under management and brings founders Harlan Storey and Kevin Krakora and all Storey employees into MAI; financial terms were not disclosed.

Galway Holdings Invests in MAI Capital Management

August 16, 2021

Wealth Management

Galway Holdings announced an investment in MAI Capital Management, adding a wealth and financial management vertical to Galway’s platform and enabling MAI to accelerate organic growth and M&A. MAI’s executive team will remain in place, Wealth Partners Capital Group will retain an equity stake, and Galway — backed by private equity investors including Carlyle, Oak Hill and Harvest — will integrate MAI’s services with its EPIC insurance distribution capabilities.