Garrison will rebrand to align with MAI’s identity and leverage its infrastructure. Credit: PeopleImages.com – Yuri A/Shutterstock.

Cleveland, Ohio-based RIA MAI Capital Management has deepened its national presence with the purchase of Garrison Asset Management for an undisclosed sum.

Garrison supports individuals, families, and organisations in accumulating wealth and creating multi-generational financial legacies. The business is based in Fayetteville, Arkansas.

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In 2017, Kerry Bradley and James Bell took ownership of the company, which reported $317m in client assets under management as of 30 September 2024.

Both Bradley and Bell, previously president and vice president of Garrison respectively, will join MAI as senior portfolio managers.

Bradley and Bell said: “Like MAI, we are driven by the opportunity to truly help individuals, families, and organisations accomplish their financial goals and are looking forward to utilising these new resources as well as offering our decades of expertise focused on making people’s financial lives better.”

With the integration into MAI, Garrison will undergo a rebranding to align with MAI’s identity and leverage its internal infrastructure, including HR, operations, and marketing support.

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MAI Little Rock area regional presidents Stephen Chaffin and Jay White said: “Not only are we adding excellent wealth advisors through the addition of the Garrison team, but we are also bringing in distinguished investment expertise to help grow our clients’ portfolios.

“We’re looking forward to bringing Kerry, James, and team on board as talented advisors who share our ‘client first’ mentality.”

MAI, established in 1973, offers financial planning and investment services for high-net-worth individuals and families.

The company has offices across 16 US states and more than 475 employees.

As of 30 September 2024, MAI had $30.3bn in total assets, including $3.1bn in assets under advisement.