The investment from Galway will enable MAI to accelerate its organic growth trajectory ad boost its client service offerings. Credit: Nattanan Kanchanaprat from Pixabay.

Ohio-based independent registered investment adviser (RIA) MAI Capital Management has secured a strategic investment from financial services distribution firm Galway Holdings.

The financial terms of the deal were not revealed.

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MAI specialises in comprehensive investment and financial planning for high-net-worth individuals and families.

The new investment will enable the firm to expedite its organic growth trajectory and boost its client service offerings.

It will also support the company’s strategy to expand its national presence through mergers and acquisitions (M&A).

MAI managing partner Rick Buoncore added: “Galway gives MAI the opportunity to continue evolving in an ever-changing financial services landscape.

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“By launching this unique approach, we can provide our clients with integrated and easy-to-access expertise across the financial spectrum, with the goal of making their lives simpler in an increasingly complex world.”

There will be no changes to the MAI’s executive team as a result of Galway investment.

Galway executive chairman John Hahn said: “We are excited to partner with Rick Buoncore and the MAI team to provide capital and resources that will help sustain the continued growth of its premier wealth management platform.

“This includes our shared vision of delivering risk management and insurance solutions via our EPIC Select platform directly to high-net and ultra-high-net-worth clients and MAI’s best-in-class trusted advisory services under one roof.”

MAI established a partnership with Wealth Partners Capital Group (WPCG) in 2017 to acquire RIAs looking to expand their business capabilities and strategic growth.

The partnership completed 12 acquisitions that expanded MAI’s geographic footprint and enhanced its service model.

WPCG will continue to maintain an equity position in MAI and will collaborate with the firm on additional growth opportunities.