MAI Capital Management has acquired Summit Financial Advisors, a California-based RIA managing approximately $570 million in client assets, marking its first deal following the acquisition of Evoke Advisors.
Target Information
Summit Financial Advisors, based in San Mateo, California, is a registered investment advisor (RIA) managing approximately $570 million in client assets. This financial firm specializes in providing personalized investment strategies and wealth management services to its clientele, enabling them to achieve their financial goals through tailored solutions.
As a prominent player in the RIA space, Summit Financial Advisors prides itself on its commitment to delivering top-notch service, comprehensive financial planning, and robust investment strategies. This acquisition marks a significant milestone for MAI Capital Management, as they expand their footprint in the competitive wealth management industry.
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Industry Overview in California
The California RIA market is experiencing rapid growth, driven by rising investor demand for personalized financial services and investment management. With a diverse economy that includes technology, entertainment, and agriculture, C
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Disclosed details
Transaction Size: $570M