CLEVELAND--(BUSINESS WIRE)--MAI Capital Management, LLC (“MAI”), an independent registered investment adviser specializing in comprehensive investment and financial planning for high-net-worth individuals and families, has announced plans to relocate its headquarters from Cleveland to neighboring Independence, Ohio. The firm, which manages over $10 billion in client assets, is slated to begin transitioning employees to the new site early next year and will be fully transitioned by the third quarter of 2022.
The move comes amid MAI’s ongoing growth. Within the last year, the firm expanded its reach to four new geographic locations, including the Greater Miami region, Little Rock, Arkansas; St. Louis and New York City, and announced the acquisitions of HW Financial Advisors and Ownership Advisors, both based in the Greater Cleveland area. MAI increased its Cleveland-based workforce by 17% last year and plans continued talent acquisition in the immediate future.
“MAI has called Cleveland home throughout our 45-plus-year history, and we are incredibly proud of the legacy we have built,” said Rick Buoncore, Managing Partner at MAI. “The Northeastern Ohio community has been central to our growth and an incredible source of talent and resources throughout our firm’s history.”
The new headquarters is positioned to accommodate ongoing growth by offering additional space for employees and dedicated meeting areas for clients. The MAI team was especially attracted to the campus setting and numerous amenities available to employees. Further, the new location will serve as a focal point for MAI’s nine other offices.
Buoncore added: “Our move to Independence is the next phase of this growth, allowing us to better collaborate as a team, expand our capabilities to host clients and reinvest in our commitment to adding jobs in the Cleveland area in the years to come. We are excited for the future and to continue calling Cleveland and its suburbs our headquarters and MAI’s hometown.”
An anticipated 140 employees will be in place at the new location by mid-2022. MAI will be based in Park Center Plaza.
About MAI Capital Management
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, New York City and St. Louis and a presence in Columbus, OH and Miami. As of March 31, 2021, MAI’s assets under management totaled $10.3 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.