MAI Capital Management is broadening its Northeast footprint with a new partnership in Pennsylvania.
On Monday, MAI announced its acquisition of Hyperion Partners, a Berwyn-based advisory firm, to expand its footprint into the greater Philadelphia area.
The deal adds approximately $528.8 million to the firm’s assets under management while strengthening its position in a key regional market.
Founded in 2018 by Jeffrey Leber and Vaughn Schill, Hyperion Partners provides advisory services primarily to high-net-worth individuals and businesses. As of September 30, it managed $528.8 million in client assets.
Currently, Cleveland, Ohio-headquartered MAI Capital Management oversees $28.2 billion in AUM, as well as an additional $3.2 billion in AUA, across 16 offices in the US. Employing over 475 people as of September 30, the firm specializes in comprehensive investment and financial planning for affluent clients.
“When we choose to expand our team, we look for partners who understand that clients come first,” Patrick Gingras, market leader and regional president at MAI, said in a statement Monday. “Jeff, Vaughn, and the full Hyperion team provide high-quality service and advice for their clients across a wide net of capabilities from tax and estate planning to business strategies.”
As part of the acquisition, MAI says Hyperion will be adopting its brand and benefit from its internal resources, including human resources, operations, and marketing infrastructure. Leber and Schill will also assume new roles as regional presidents within MAI.
“Going above and beyond for our clients is what has allowed us to gain their trust throughout our careers,” said Leber and Schill in a joint statement. “MAI shares this philosophy, and this next chapter in our story allows us to act on it in new ways to help provide families and businesses with a return on their investments.”
MAI's transaction with Hyperion adds to its 2024 calendar of acquisitions, which includes its deal for $1.2 billion Halpern Financial in October and its earlier move to welcome Harbor Wealth Management, a women-owned and operated firm in Colorado, in May.
Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.
Whichever path you go down, act now while you're still in control.
Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
Streamline your outreach with Aidentified's AI-driven solutions
This season’s market volatility: Positioning for rate relief, income growth and the AI rebound
