MAI Capital Management Acquires Bolan Capital Management

Strategic Insights -

Cleveland-based MAI Capital Management, LLC has expanded its presence in the regional wealth management market through the acquisition of Bolan Capital Management, LLC. The boutique firm, founded in 2009 by Brian Bolan, specializes in investment and financial planning for high-net-worth individuals and families. The acquisition, which was completed on September 27, 2024, marks MAI's 39th acquisition since 2018 and its seventh of 2024. The acquired firm, Bolan Capital Management, had $238 million in client assets under management at the time of the transaction.

Key Takeaways:

  • MAI Capital Management, LLC has acquired Bolan Capital Management, LLC, a boutique wealth management firm founded in 2009 by Brian Bolan.
  • The acquisition marks MAI's 39th acquisition since 2018 and its seventh of 2024, expanding its presence in the regional wealth management market.
  • Bolan Capital Management had $238 million in client assets under management at the time of the acquisition and was headquartered in Cincinnati, OH, with operations in Nashville, TN.
  • The acquisition brings on board Brian Bolan, who will take on the title of Senior Wealth Advisor, and relocate to the Nashville office to leverage MAI's capabilities and resources.
  • This is MAI's fourth Cincinnati-based acquisition in the past year, with the firm having acquired $1.4 billion in assets with Madison Wealth Management in January.
  • MAI's Regional President & Market Leader, Ed Kuresman, expressed excitement about the acquisition, stating "We are thrilled to bring the BCM team on board as we continue to build out our footprint in Cincinnati and the larger region."

Statistics:

  • MAI Capital Management has acquired 39 firms since 2018, with seven acquisitions in 2024 alone.
  • Bolan Capital Management had $238 million in client assets under management at the time of acquisition.
  • MAI has acquired $1.4 billion in assets with Madison Wealth Management in January 2024.
  • MAI's 39th acquisition was completed on September 27, 2024.

Sources:

  • MAI Capital Management, LLC official news release (date not specified)
  • "MAI Capital Management Acquires Bolan Capital Management" (no date or publication specified)