CLEVELAND--(BUSINESS WIRE)--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 Bolan Capital Management (“BCM”). Terms of the transaction were not disclosed.
Founded in 2009 by Brian Bolan, BCM is a boutique wealth management firm that serves a broad range of clients across industries and sectors. The firm, originally headquartered in Cincinnati, OH and whose roots lie in healthcare and academia, grew organically, eventually expanding from the tri-state area to Nashville, TN. At the time of the acquisition, BCM had $238 million in client assets under management. This is MAI’s fourth Cincinnati-based acquisition in the past year, including the purchase of $1.4 billion Madison Wealth Management in January.
“We are thrilled to bring the BCM team on board as we continue to build out our footprint in Cincinnati and the larger region,” said Ed Kuresman, Regional President & Market Leader at MAI. “Brian and his team bring a unique perspective and successful track record advising clients working across industries, such as academia and healthcare, driving the region forward, and matching our passion for serving clients across generations.”
BMC will adopt MAI’s brand identity and receive the robust internal infrastructure that MAI extends to other acquired firms, including HR, operations, and marketing resources. As part of MAI, Brian Bolan, President, will take on the title of Senior Wealth Advisor.
“As we were looking for the right way to continue to grow, we landed on the idea of joining a firm that had the scale and services that our clients were seeking,” said Bolan. “MAI shares our client first approach, and we are excited to continue to serve our existing clients and expand MAI’s presence into Nashville by leveraging the capabilities and resources they provide.”
BCM joined MAI effective September 27, 2024 as MAI’s 39th acquisition since 2018, and its seventh of 2024.
About MAI Capital Management
MAI is a registered investment adviser and wealth management firm unified in purpose to empower clients to simplify, protect, and grow the wealth they have worked so hard to build. Founded in 1973, the firm helps clients achieve their vision and goals through objective advice, tailored planning, comprehensive and integrated solutions, and highly personal service. The firm is headquartered in Cleveland OH with offices across 16 US states, a team of more than 450 people, and, as of June 30, 2024, $23.6 billion in client assets under management. For more information, visit www.mai.capital or MAI’s company page on LinkedIn.
