MAI Capital Management has acquired Queens Oak Advisors (QOA) to grow its presence in the Greater Charlotte region.
The deal, whose financial details are unknown, also bolsters the firm’s expertise in financial planning and asset management.
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Established in 2009, QOA specialises in financial planning services as well as estate planning, retirement planning, asset allocation and tax planning services.
The firm also offers planning solutions and investment products for high-net-worth (HNW) and institutional clients.
Under the agreement, QOA’s Leila Evans will become regional president of Charlotte and senior managing director, while Deems May will become director of Business Development at MAI.
May, who is a former NFL player and NFL Players’ Association representative, will join MAI Sports + Entertainment division.
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By GlobalDataAdditionally, MAI will adopt and implement an initiative launched by QOA to empower women to advance their involvement in their financial affairs.
MAI managing partner Rick Buoncore said: “We are thrilled to expand into Charlotte and work with Leila, Deems and their team.
“QOA is respected within the community for their dedication to improving the financial lives of their clients, which mirrors the client-first approach here at MAI.”
The latest deal marks MAI’s third acquisition since obtaining a strategic investment from financial services distribution company Galway in this September.
Its previous acquisitions were Chicago-based Hochman Cole Investment Advisors and Ohio-based Storey & Associates.
Earlier this year, the firm took over HW Financial Advisors, Florida-based MWM Investment Consulting and Baltimore-based Geier Asset Management among a number of other firms.
Commenting to the latest deal, Galway executive chairman John Hahn said: “As the options for wealth management continue to expand, it has become increasingly important to maintain a client-focused philosophy.
“MAI continues to highlight its commitment to growth by partnering with firms like Queens Oak that share the same vision for client service and success.”
