The $30 billion firm’s latest acquisition adds a new location in Arkansas along with roughly $317 million in additional client assets.
MAI Capital Management has announced another move to broaden its geographic reach while reinforcing its commitment to high-net-worth clients and institutions.
The firm announced that it has acquired Garrison Asset Management, an Arkansas-based wealth management firm with $317 million in client assets as of September 30.
The acquisition, effective December 20, adds to MAI’s ongoing strategy of growth through partnerships and acquisitions,
Headquartered in Fayetteville, Garrison specializes in portfolio management and wealth planning for individuals, families, and organizations. Under the leadership of Kerry Bradley and James Bell, who became owners in 2017, the firm has gained a reputation for helping clients build wealth and sustain multi-generational financial legacies.
“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,” Stephen Chaffin and Jay White, regional presidents at MAI in the Little Rock area, said in a statement Tuesday.
“We’re looking forward to bringing Kerry, James, and team on board as talented advisors who share our ‘client first’ mentality,” Chaffin and White said.
Garrison will operate under the MAI brand, leveraging the firm’s centralized resources, including operations, marketing, and human resources.
Bradley and Bell, who will bring decades of collective expertise to their new roles as senior portfolio managers at MAI, pointed to the firm’s client-focused mindset and “resources to enhance our services” as factors behind their partnership decision.
As of September 30, the Ohion-based firm had offices and a more than 475-person team across 16 states, with $30.3 billion in total assets, counting $3.1 billion in assets under advisement.
“Like MAI, we are driven by the opportunity to truly help individuals, families, and organizations accomplish their financial goals,” Bradley and Bell said in a joint statement.
Financial terms of the deal were not disclosed.
Prior to Garret, Mai capped off its 2024 deal calendar by acquiring Maryland-based RIA Carmichael Hill & Associates in December. Last year, it kicked off its inorganic expansion strategy by welcoming $1.4 billion Madison Wealth Management, bolstering its presence in Ohio and Northern Virginia.
