Bain Capital Acquires 24.98% Stake in IIFL Wealth Management

Bain Capital Acquires Joint Control Stake in Manappuram Finance

March 20, 2025

Financial Services

Bain Capital has entered definitive agreements to acquire joint control of Manappuram Finance through affiliates BC Asia Investments XXV Limited and BC Asia Investments XIV Limited, investing approximately INR 4,385 crore for an 18% stake via preferential allotment and warrants. The deal will trigger a mandatory open offer for up to an additional 26% and positions Bain to support Manappuram's next phase of growth across gold loans, microfinance, vehicle and housing finance, while the existing promoters remain invested.

Wealth Enhancement Group Acquires BFS Wealth Management

December 15, 2022

Financial Services

Wealth Enhancement Group acquired BFS Wealth Management, a hybrid registered investment advisor based in Iselin, New Jersey that oversees roughly $523 million in client assets. The deal expands Wealth Enhancement Group’s footprint in the New York–New Jersey–Connecticut Tri‑State region to 12 offices and brings a team of three advisors and six support staff onto its national platform.

MAI Capital Management Acquires Lowe Wealth Advisors

December 15, 2025

Financial Services

MAI Capital Management has acquired Columbia, Maryland-based Lowe Wealth Advisors, a registered investment advisor with $527 million in assets under management. The deal expands MAI’s footprint in the Mid-Atlantic — adding Lowe’s nine-person, boutique, family-led practice and its niche client base while transitioning the firm onto MAI’s national platform; terms were not disclosed.

MAI Capital Management Acquires Monarch Business & Wealth Management (and Regal Wealth Management)

December 17, 2021

Financial Services

MAI Capital Management acquired New York–based Monarch Business & Wealth Management, LLC and its strategic partner Regal Wealth Management, LLC, expanding MAI’s nationwide footprint and adding experienced financial planning and investment teams to its Sports & Entertainment Division. The deal, which closed Dec. 17, 2021, will increase MAI’s assets under management by over $163 million; financial terms were not disclosed.

MAI Capital Management Acquires Madison Wealth Management

January 8, 2024

Wealth Management

MAI Capital Management acquired Madison Wealth Management, adding approximately $1.4 billion of client assets under management and expanding MAI’s presence in Cincinnati and Northern Virginia. The Madison team will join MAI effective January 5, with Madison leaders Ed Kuresman and Jim McDermott assuming Regional President roles; terms were not disclosed.

Summit Financial Makes Minority Investment in Ivy Wealth Management

December 6, 2025

Financial Services

Summit Financial has made a minority investment in Ivy Wealth Management, a West Warwick, Rhode Island-based registered investment advisor that oversees more than $500 million in client assets. The deal expands Summit’s national RIA platform and strengthens its presence in the Northeast while allowing Ivy’s principals to retain operational control and access Summit’s capital, technology and investment-management resources.