MAI completes Evoke Advisors acquisition, raising AUM to $65bn

Core Insights - MAI has completed the acquisition of Evoke Advisors, increasing its assets under management (AUM) to over $65 billion and enhancing its national presence and capabilities [1][2] - The acquisition is part of MAI's growth strategy, particularly aimed at improving services for ultra-high-net-worth (UHNW) clients and institutions [1][5] Group 1: Acquisition Details - The addition of Evoke Advisors allows MAI to operate across 34 offices in the US [2] - MAI has added over $30 billion in AUM during the year, indicating significant growth [2] - The integration of talent from both firms has led to an expanded Office of Managing Partners (OMP) [2] Group 2: Leadership and Management - Rick Buoncore continues as chairman and CEO, with new managing partners from Evoke joining the OMP [3][4] - The OMP now includes various managing partners overseeing different areas such as Evoke Ultra-High Net Worth, Operations, Family Office & Tax Services, and Wealth Management [4] Group 3: Strategic Goals - The acquisition enables MAI to expand its capabilities and provide clients with greater access to a national platform and specialized expertise [5] - MAI aims to unify its brand, pursue organic growth opportunities, and equip advisors with tools and resources to maximize the benefits of the expanded platform [6]