MAI Capital Management has expanded its reach with the acquisition of Halpern Financial, a registered investment advisory (RIA) firm managing $1.2 billion in assets.
Halpern Financial operates from offices in Ashburn, Virginia, and Rockville, Maryland, with an advisor working part-time in Naples, Florida, according to MAI.
Ted Halpern, the founder of Halpern Financial, describes the acquisition as a “perfect match” for both firms, aligning with shared values and growth ambitions.
“When considering this move, we sought a partner that shared our philosophy and could help take our firm to the next level,” says Halpern. “This partnership with MAI enables us to offer expanded services and expertise to the individuals and families we work with, across all asset levels, leveraging MAI’s resources and unique capabilities.”
Halpern will assume the role of regional president under the MAI umbrella.
The deal, which closed on October 4, marks MAI’s eighth acquisition of the year and the 40th since 2018. A company spokesperson hints that further deals are on the horizon.
“We’re actively evaluating a strong pipeline of firms that align with our client-first philosophy and bring valuable expertise and clients to the table,” the spokesperson says.
Under the MAI brand, Halpern Financial will receive support in areas such as human resources and marketing.
Founded in 1991, Halpern Financial operates under a fee-only model, providing comprehensive financial planning services for affluent individuals and families.
MAI Executive Chairman Rick Buoncore highlights Halpern’s holistic service approach as a key factor in the acquisition.
“The Halpern team’s commitment to not only managing assets but also educating clients for long-term success stood out to us,” Buoncore says.
The acquisition brings six advisors and five support staff from Halpern to MAI’s growing team.
This deal is MAI’s second in Northern Virginia this year. Earlier, in January, the firm acquired Madison Wealth Management, an RIA with $1.4 billion in assets under management.
