MAI Capital Management Acquires WaterStone Investment Counsel
MAI Capital Management, LLC ("MAI"), a registered investment adviser specializing in comprehensive investment and financial planning for high-net-worth individuals and families, today announced the acquisition of WaterStone Investment Counsel ("WaterStone"). Terms of the transaction were not disclosed.
WaterStone is an independent investment management firm headquartered in Cincinnati and founded in 1995 by Mark Roberts and Don Brosz. It provides investment management and counseling services to individuals, businesses, and foundations across a number of asset classes and investment vehicles. The firm has $144 million in client assets under management.
"We are thrilled to bring the WaterStone team into the MAI fold and continue to expand our presence in Cincinnati," said Ed Kuresman, Regional President. "For nearly three decades, WaterStone has provided clients in the region with simplified, high-touch solutions, and we are confident they will make a great addition to our client-centric culture."
WaterStone will adopt MAI's brand identity and receive the robust internal infrastructure that MAI extends to all acquired firms, including HR, operations, and marketing resources. At MAI, Mark Roberts and Don Brosz will both assume the title of Senior Wealth Advisor, working with Ed Kuresman's team.
"As we move into the next phase in our business journey, we are excited to join MAI, which shares our intense focus on doing what is best for our clients," added Don Brosz, Managing Director at WaterStone. Mark Roberts, also Managing Director, added, "This move will also allow us to leverage expanded capabilities, such as those related to tax and estate planning, that can help us provide more holistic solutions to our clients."
WaterStone joined MAI effective January 19 as MAI's 35th acquisition since 2018. It is also its second in Cincinnati this year, following the addition of Madison Wealth Management on January 5.
About MAI Capital Management
MAI is a registered investment adviser and wealth management firm built on the premise of innovative and personalized client care.
Founded over a handshake between Arnold Palmer and Mark McCormack in 1973, MAI has since evolved into an industry leader under the stewardship of Managing Partner Rick Buoncore. The firm is headquartered in Cleveland OH, with a team of more than 275 advisors and staff providing financial planning, investment management, tax and accounting services to clients supported by additional teams in operations, HR, and technology, fueled by one powerful purpose: to empower clients to simplify, protect, and grow the wealth they have worked so hard to build.
As of December 31, 2023, MAI has more than $18.8 billion in client assets under management. For more information, visit www.mai.capital or MAI's company page on LinkedIn.
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