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MAI Capital Management, LLC completes acquisition of Carmichael Hill & Associates, Inc. to enhance wealth management services

Dec 09, 2024•7 months ago

Acquiring Company

MAI Capital Management

Acquired Company

Carmichael Hill & Associates

GaithersburgFinanceFinancial Services

Description

MAI Capital Management, LLC, a registered investment adviser specializing in comprehensive investment and financial planning for high-net-worth individuals and families, has acquired Carmichael Hill & Associates, Inc., a firm offering tailored retirement planning and financial services since 1989. This strategic acquisition is aimed at enhancing MAI's wealth management services and expanding its presence in Maryland and the Washington D.C. Metro area.

Company Information

Company

MAI Capital Management

About

MAI Capital Management (“MAI”) is a fee-based registered investment adviser and wealth management firm based in Cleveland, with additional offices in Cincinnati, OH, Ponte Vedra Beach, FL, Nashua, NH, Irvine, CA, Reston, VA, Little Rock, AR, Naples, FL, New York City and St. Louis and a presence in Columbus, OH and Miami. As of Aug. 31, 2021, MAI’s assets under management totaled $11.8 billion. The firm also provides comprehensive investment management and planning services to high-net-worth individuals, families and athletes. MAI is led by Managing Partner Rick Buoncore. For more information, please visit www.mai.capital.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed