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September 21, 2021

MAI Capital Management acquires Geier to fortify mid-Atlantic footprint

By Verdict Staff

MAI Capital Management, a US-based registered investment adviser (RIA) offering investment and financial planning for HNWIs, has acquired Geier Asset Management (GAM).

The deal, whose financial terms are unknown, also covers Geier’s financial arm, Winpoint Financial.

The acquisition, which takes MAI’s assets under management by approximately $390m, comes close on the heels of a strategic investment in the firm by Galway Holdings.

The addition of GAM is expected to expand MAI’s footprint to the Greater Baltimore region and strengthens its mid-Atlantic presence.

Founded in 1999, GAM offers financial planning and wealth management services to wealthy individuals and families.

Winpoint Financial arm provides financial planning service to Major League Baseball athletes and complements MAI’s Sports + Entertainment vertical.

Under the agreement, Winpoint team will work closely with MAI regional president and head of MAI Sports + Entertainment Steve Trax in Reston, Virginia.

Trax said: “This addition validates our commitment to the mid-Atlantic market and the goal of becoming the preeminent advisory firm for athletes and entertainers.

“On a personal and professional level, I feel privileged to be working alongside Joe, as I believe he is one of the best in the athlete advisory business.”

GAM founder Joseph Geier along with his complete team will join MAI.

Geier will become a senior managing director and regional president at the new firm, while GAM vice-president Brian Woods will assume the role of managing director and senior wealth adviser.

Geier commented: “Our focus at GAM and Winpoint has always been to deliver ‘best-in-class’ comprehensive services to our clients.

“We are very excited that this merger will position us to continue to serve our clients’ evolving needs and set the stage for continued growth.”

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

The latest deal marks the company’s 13th acquisition since the partnership.

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