MAI Capital Management, LLC, a registered investment adviser specializing in comprehensive investment and financial planning for high-net-worth individuals and families, has acquired Geier Asset Management, Inc. and Geier Financial Management, Inc., doing business as Winpoint Financial. The acquisition extends MAI’s footprint to the Greater Baltimore region and strengthens MAI’s presence in the mid-Atlantic region.
Based in Marriottsville, Maryland, GAM provides holistic financial planning and wealth management services to wealthy individuals and families, including those in their working years and through retirement. GAM was founded in 1999 by Joseph “Joe” Geier, who continues to lead the firm along with Vice President Brian Woods. GAM’s Winpoint Financial arm is dedicated to serving the financial planning needs of Major League Baseball athletes. The professional athlete focus complements MAI’s Sports + Entertainment vertical, and the team will work closely with Steve Trax, MAI’s Regional President and Head of MAI Sports + Entertainment in Reston, Virginia. The entire GAM team will become employees of MAI. Geier will assume the role of Senior Managing Director and Regional President, while Woods will serve as Managing Director and Senior Wealth Advisor.
This is MAI’s 13th acquisition since taking a minority investment from Wealth Partners Capital Group (“WPCG”), a financial services holding company, in July 2017 and the first since announcing it will be selling a majority stake to Galway Holdings (“Galway”), a financial services distribution company, which is expected to close at the end of the month. Both partnerships position MAI for ongoing and strategic growth via mergers and acquisitions activity. Earlier this year, MAI announced its acquisitions of HW Financial Advisors and the wealth management division of Ownership Advisors, both based in the Greater Cleveland area, as well as the acquisition of Naples, Florida-based MWM Investment Consulting. The acquisition of GAM expands MAI’s current presence in Reston, Virginia, creating a broader mid-Atlantic footprint for the firm.
The acquisition closed on Sept. 17, 2021, and will increase MAI’s assets under management by approximately $390 million. Financial and legal terms of the deal were not disclosed.
