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.
Takeaways
- Saybrook Wealth Group is a RIA providing wealth management and financial planning to high-net-worth clients.
- MAI Capital Management is acquiring Saybrook Wealth Group with backing from Carlyle.
- The target serves high-net-worth individuals and families across Northeast US.
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.
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