IQ Financial Advisor – Content page


MAI capital management says it has made two acquisitions that will expand its footprint in the Greater Baltimore area.

Registered investment advisory firm says it has acquired Geier Asset Management, also a RIA company, and its subsidiary Geier Financial Management, do business like Winpoint Financial.

GAM, based in Marriottsville, Maryland, was founded in 1999 by Joseph geier and provides holistic financial planning and wealth management services to individuals and families while working and during retirement, according to MAI. Geier Financial Management, which announced a rebranding under the name Winpoint in 2014, focuses on service Major League Baseball athletes. MAI says this concentration complements its Sports + Entertainment division.

“We are delighted to partner with Joe Geier and his team to further strengthen our strong financial services platform serving the unique needs of our athletes, artists and high net worth clients.” Steve trax, regional chairman of MAI and head of MAI’s Sports + Entertainment division, said in a statement.

Trax adds that the deal “validates” the company’s commitment to the Mid-Atlantic market and is in line with its goal of becoming the region’s benchmark consulting company for athletes and artists.

The entire GAM team became employees of Cleveland-based MAI as part of the deal, according to MAI.

GAM President Joseph Geier will become MAI Senior Managing Director and Regional President, while GAM Vice President Brian woods will become Managing Director and Senior Wealth Advisor at MAI, according to MAI.

MAI expects the deal, reached on September 17, to increase its clients’ assets by about $ 390 million. GAM had $ 353.6 million in customer assets as of December 2020, according to its Security and Trade Commission Form ADV.

MAI did not disclose the financial terms of the deal. The company had approximately $ 9.1 billion in customer assets as of December 2020, according to its SEC ADV form.

MAI itself is bought by an insurance company Galway Holdings, and MAI says the deal is expected to be done at the end of this month.

Do you have a topical tip that you would like to share with FA-IQ? Write to us at [email protected].

Source link


Comments are closed.