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FUNDRAISING NEWS | January 02, 2025
Tags: RIA, Mergers / Acquisitions
MAI Capital Management announced that it has acquired Lafayette, CA-based Concentric Wealth Management, which managed $601M in client assets as of March 28, 2024.
According to a December 31 announcement, Concentric Wealth CEO Eric Flett and CIO Stewart McGuire will join MAI Capital as regional presidents and senior managing directors following the transaction.
The acquisition bolsters the firm’s presence on the West Coast. Concentric Wealth is the third acquisition of the firm in December, following closely on the purchase of Arkansas-based Garrison Asset Management and Gaithersburg, MD-based Carmichael Hill & Associates earlier in the month.
Written By: Dakota
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