MAI Capital Management (MAI) – a registered investment adviser specializing in comprehensive investment and financial planning for high-net-worth individuals and families – announced the acquisition of LWS Wealth Advisors (LWS). The terms of the deal were undisclosed.
Based in Basking Ridge, NJ, LWS serves high-net-worth and ultra-high-net-worth clients and families nationwide. The firm offers comprehensive financial planning, asset management, and family office services designed to simplify clients’ evolving and complex needs. At the time of the acquisition, the firm had $562 million in client assets under management.
LWS will adopt MAI’s brand identity and receive essential internal infrastructure that MAI extends to all acquired firms, including HR, operations, and marketing resources. As part of MAI, Lance Lipset (founder and Managing Principal of LWS) will assume the title of Regional President.
LWS joined MAI effective March 1, 2024 as MAI’s 36th acquisition since 2018 and the fourth of 2024. And this acquisition adds to MAI’s growing presence nationally and specifically in the northeastern United States.
As of January 31, 2024, MAI has over $20.8 billion in client assets under management.
KEY QUOTES:
“For more than a decade, LWS has provided personalized solutions to clients covering all aspects of their financial lives. Their exceptional service has led to tremendous growth, and we are thrilled that they are joining the MAI family.”
- Rick Buoncore, Managing Partner at MAI
“Since starting our business in 2012, we’ve had a singular focus on being a comprehensive partner to our clients. As LWS continues to grow, our decision to join MAI – an organization that shares our values – allows our team to double down on bespoke client service, tap into MAI’s backend capabilities, and expand our offerings in areas such as alternative investments.”
- Lance Lipset, founder and Managing Principal of LWS
