MAI Capital Management adds Saybrook Wealth Group
Adds $273 million of AUM in Connecticut and more than 300 client households to a Carlyle-backed RIA with over 40 U.S. offices.
Old Saybrook, Connecticut-based Saybrook Wealth Group, a fee-only fiduciary RIA providing wealth management and financial planning, has been acquired by Carlyle-backed MAI Capital Management.
Founded in 2007 by Stephen Norton, Saybrook manages approximately $273 million in AUM and serves more than 300 households with portfolio construction, retirement income, tax and estate planning.
Norton will continue serving clients as a Senior Wealth Advisor at MAI, and Saybrook will adopt MAI's brand identity.
MAI has more than 40 offices across the U.S., more than 700 employees and about $77.3 billion in combined client assets managed or advised.
Terms were not disclosed.
Get tomorrow morning's tape in your inbox.
Yesterday's platforms, add-ons, recaps, and exits, cleaned up before the workday starts.