MAI Capital Management expands portfolio with acquisition of WaterStone Investment Counsel
MAI Capital Management, LLC (“MAI”), a premier registered investment adviser known for its tailored investment and financial planning services for high-net-worth individuals and families, has officially announced its acquisition of WaterStone Investment Counsel (“WaterStone”). The specifics of the transaction remain undisclosed, marking a significant step in MAI’s strategic expansion efforts.
Strengthening Client Services with Strategic Acquisition
Based in Cincinnati, WaterStone is a distinguished independent investment management firm, established in 1995 by Mark Roberts and Don Brosz. The firm boasts $144 million in client assets under management and offers a wide range of investment management and counseling services to individuals, businesses, and foundations. It specializes in multiple asset classes and investment vehicles, making it a valuable addition to MAI’s growing portfolio.
Ed Kuresman, Regional President of MAI, expressed enthusiasm about the merger, stating, “We are thrilled to bring the WaterStone team into the MAI fold and continue to expand our presence in Cincinnati. For nearly three decades, WaterStone has provided clients in the region with simplified, high-touch solutions, and we are confident they will make a great addition to our client-centric culture.”
MAI Capital Management acquires WaterStone Investment Counsel
Integration and Enhanced Capabilities
As part of the integration, WaterStone will embrace MAI’s brand identity and benefit from the comprehensive internal infrastructure MAI offers to all its acquired firms, including human resources, operations, and marketing support. Mark Roberts and Don Brosz will join MAI’s team as Senior Wealth Advisors, working under Ed Kuresman’s leadership.
Reflecting on the transition, Don Brosz remarked, “As we move into the next phase in our business journey, we are excited to join MAI, which shares our intense focus on doing what is best for our clients.” Mark Roberts added, “This move will also allow us to leverage expanded capabilities, such as those related to tax and estate planning, that can help us provide more holistic solutions to our clients.”
A Growing Presence in Cincinnati
The acquisition, effective January 19, marks MAI’s 35th acquisition since 2018 and its second in Cincinnati this year, following the acquisition of Madison Wealth Management on January 5. This strategic expansion not only bolsters MAI’s presence in the Cincinnati area but also underscores its commitment to offering comprehensive and client-focused financial solutions.