MAI Capital Management Buys UHNW RIA

MAI Capital Management has acquired Service Academy Capital Management, LLC, a Dallas-based registered investment advisor (RIA) serving ultra-high-net-worth (UHNW) individuals and their families, institutions and family offices.

SACMGT will join MAI’s UHNW division, Evoke. Terms of the transaction were not disclosed.

Founded in 2015 by Brian Sears, SACMGT specializes in delivering bespoke portfolios and financial planning advice. Utilizing both private and public market investments, SACMGT constructs portfolios specific to each client’s risk profile and investment objectives.

Prior to founding SACMGT, Sears served as one of the co-heads of Barclays Wealth America, overseeing the Western United States, as a global co-head of Distribution and Product Development for Alternative Investments at Neuberger Berman and as a financial advisor at Goldman Sachs and Merrill Lynch.

“Brian and his team have built just the kind of firm we seek out—one where the client relationship comes first and the investment approach is as unique as the clients they serve,” said Rick Buoncore, chairman and CEO at MAI. “Service Academy Capital Management’s depth of experience in alternatives, fixed income and complex planning, combined with a family office-style approach to each client relationship, will complement MAI’s platform, especially as we continue to expand our ultra-high-net-worth and family office offerings.”

The addition of SACMGT is said to further enhance MAI’s UHNW capabilities and bench strength.

“The addition of the Service Academy Capital team enhances our ability to deliver comprehensive, high-touch service to clients across Dallas and the broader region, one of the country’s most dynamic markets,” said David Hou, managing partner at Evoke. “Ultra-high-net-worth families today tend to want more than investment access. Many are looking for a full family office experience, and through this partnership, Brian and his team will be able to provide their clients access to our Family Office Service Group, which offers sophisticated planning as well as tax, estate, and lifestyle support tailored to multigenerational wealth.”

By joining MAI, SACMGT will gain access to MAI’s integrated platform, including compliance, operations, portfolio reporting and performance, tax and estate planning, trust services, research and a family office infrastructure. Sears will continue to lead client relationships and investment strategy for the firm in his new role as investment advisor and senior managing director.

“I have known and worked with members of the Evoke leadership team since 1994,” said Sears. “Over the years, we often discussed finding a way to partner, and once Evoke joined MAI last year, the decision was straightforward. After visiting MAI in Cleveland, meeting with leadership and sitting in on research calls, I found a firm that shares a philosophy similar to the one we built at Service Academy Capital Management, one that is dedicated to providing integrated wealth management solutions for clients, aims to make the right decisions for its people, and is deeply committed to giving back.”