MAI Capital Management, a registered investment adviser (RIA) specializing in investment and financial planning for high-net-worth individuals and families, announced the acquisition of Halpern Financial. The terms of the transaction were not disclosed.
With offices in Ashburn, VA and Rockville, MD along with a presence in Naples, FL, Halpern is a fee-only, independent fiduciary and registered investment advisor. Launched by Ted Halpern in 1991, the firm had $1.2 billion in client assets under management as of September 30, 2024.
Halpern will be adopting MAI’s brand identity and receive its internal infrastructure, including HR, operations, and marketing resources. And as part of MAI, Ted Halpern, President, will take on the title of Regional President.
Halpern joined MAI effective October 4, 2024, making it MAI’s 40th acquisition since 2018 and eighth of 2024. In January, MAI acquired $1.4 Madison Wealth Management, which has a strong presence in northern Virginia, making this the second expansion into the year’s region.
KEY QUOTES:
“We were drawn to the Halpern team because of their passion for not only managing their clients’ money, but also providing them with the financial education they need to thrive for the long term. Ted and his team have longstanding success in valuing, uplifting, and serving their clients, and we look forward to partnering with them to continue that work.”
- Rick Buoncore, Executive Chairman at MAI
“When making this decision, we were looking for a like-minded partner to help bring our business into its next phase of growth. MAI is a perfect match for our client-first culture and mindset. This move allows us a clear pathway to deliver enhanced services and expertise to the individuals and families we serve across all asset levels, using MAI’s additional resources and unique capabilities.”
- Ted Halpern
