The Cleveland-based acquisition continues to strengthen MAI’s foothold in Northeast Ohio
MAI Capital Management, LLC, a registered investment adviser specializing in comprehensive investment and financial planning for high-net-worth individuals, families, professional athletes and entertainers, has acquired Pareto Wealth Management (“Pareto”). The acquisition adds talent to MAI’s financial planning and wealth teams at its headquarters in Independence, Ohio.
“Sean and Joe exemplify this commitment and will be additive to MAI’s larger financial planning and wealth management offerings. We’re excited to welcome them aboard.”
Based in Cleveland, Pareto provides financial planning and wealth management services for its high-net-worth clients. The firm’s leaders Sean Kriak and Joe Palko work with clients to design comprehensive financial and retirement plans aligned with goals-based investment management and strategy. Pareto was previously a division of McDonald Partners Wealth Advisory Group in Cleveland. The entire Pareto team will join MAI, with Kriak and Palko each assuming the role of Managing Director at MAI.
Latest Fintech News: Study by Cantaloupe and Michigan State University Shows Contactless Payment Transactions Soar
“Partnering with professionals who share our client-first philosophy remains a priority for us as we grow,” said Rick Buoncore, Managing Partner at MAI. “Sean and Joe exemplify this commitment and will be additive to MAI’s larger financial planning and wealth management offerings. We’re excited to welcome them aboard.”
This is MAI’s eighth acquisition since Galway Holdings (“Galway”), a leading financial services distribution company, completed its acquisition of MAI in September 2021. The partnership with Galway positions MAI for ongoing and strategic growth through M&A and organic activity and broadens its client service offerings.
Most recently, MAI announced its partnership with Intersect, a San Ramon, Calif.-based wealth management firm with a significant focus on advising professional athletes. Earlier this year, MAI announced its acquisition of Winfield Associates in Cleveland and Monarch Business & Wealth Management in New York City. Prior to that, MAI acquired Investment Planning Associates located in Rockville, Maryland; Queens Oak Advisors in Charlotte, North Carolina; Hochman Cole Investment Advisors, based in the Chicagoland area; Storey & Associates, located in North Canton, Ohio; HW Financial Advisors in Cleveland; the wealth management division of Ownership Advisors in Cleveland; MWM Investment Consulting located in Naples, Florida; and Geier Asset Management in Baltimore.
Latest Fintech News: SmartBank Chooses Veeam to Ensure Ultra-Reliable, Secure Banking with Backup and Recovery
“Our team’s top focus is on delivering a superior client experience,” said Kriak. “Partnering with MAI will allow us to amplify these efforts, bringing expanded tools and resources for our clients, while affording us more time to focus on meeting our clients’ goals and needs.”
John Hahn, Executive Chairman at Galway added: “MAI’s growth objectives are rooted in its mission to best serve its clients and fortify its team of quality and forward-thinking professionals. The addition of Sean, Joe and the Pareto team bolsters MAI’s offerings within its Northeast Ohio headquarters and beyond.”
Latest Fintech News: Astra and Visa Partner to Enable Faster Funding for New Accounts
[To share your insights with us, please write to sghosh@martechseries.com]
