MAI Capital Management, LLC, a registered investment adviser specializing in comprehensive investment and financial planning for high-net-worth individuals and families, acquired West Point Business Group. The acquisition adds specialized retirement plan consulting talent and facilitates the launch of MAI Retirement, a dedicated retirement plan service line.
Based in Ponte Vedra Beach, Florida, West Point provides fiduciary-based retirement plan consulting and financial wellness programs for businesses, as well as comprehensive wealth management for individuals and families. The firm creates customized solutions for its retirement clients and will establish MAI’s presence in the defined contribution and defined benefit plan space by leveraging MAI’s network of professionals and sister organizations.
West Point partners C. Clayton Perry and Keola J. Elobt will both assume roles as Managing Director and Group Head of MAI Retirement; they will be joined by four other West Point team members at MAI Retirement. Additionally, MAI Retirement has appointed Jason Hamilton, who brings over 27 years of industry experience, as Director of Retirement.
“As we have grown, we have become deeply invested in our talent and solution set,” says Rick Buoncore, Managing Partner at MAI. “This focus has laid the groundwork for our partnership with the West Point team and the founding of MAI Retirement. We are excited to leverage their experience and insights to broaden our service offerings for a larger group of clients as we set out to enhance our national offering and scale.”
Clay added: “We have worked with MAI for the last 5 years and have seen up close the quality of the company and the people. We are excited to join the MAI team and look forward to building a national retirement plan platform across the enterprise.”
