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MAI Capital Management LLC has acquired Cincinnati-based D. Dovich & Associates LLC in a deal that includes both wealth management and insurance services.

Financial and legal terms of the deal were not disclosed.

The move establishes an MAI location in Cincinnati while forming the basis of MAI Insurance Solutions, a new entity devoted to planning-based insurance services.

John Dovich, founder of Dovich & Associates, will become regional managing director of the Cincinnati office, National Head of MAI Insurance Solutions and Partner of MAI. More than 10 members of Dovich & Associates will join him at MAI, including Bill Bruns and Tom Lalley, who will each become a managing director and partner at MAI.

This is MAI’s fourth partnership since taking a minority investment from financial services holding company WPCG in July 2017. It also marks the firm’s second regional expansion following the acquisition of MTX Wealth Management LLC. MAI also acquired the wealth management division of Calfee Financial Advisors last year, and the wealth management division of CCI Financial Group Inc. in April.

The deal, which closed on June 30, will increase MAI’s assets under management by approximately $600 million.