MAI Capital Management, LLC (“MAI”), a registered investment adviser specializing in comprehensive investment and financial planning for high-net-worth individuals and families, announced the acquisition of LWS Wealth Advisors (“LWS”). Terms of the transaction were not disclosed.
Headquartered in Basking Ridge, NJ, LWS serves high-net-worth and ultra-high-net-worth clients and families nationwide. The firm offers comprehensive financial planning, asset management, and family office services designed to simplify its clients’ evolving and complex needs. The firm had $562 million in client assets under management at the time of the acquisition.
“For more than a decade, LWS has provided personalized solutions to clients covering all aspects of their financial lives,” said Rick Buoncore, Managing Partner at MAI. “Their exceptional service has led to tremendous growth, and we are thrilled that they are joining the MAI family.”
LWS will adopt MAI’s brand identity and receive the robust internal infrastructure that MAI extends to all acquired firms, including HR, operations, and marketing resources. As part of MAI, Lance Lipset, Founder and Managing Principal of LWS, will assume the title of Regional President.
“Since starting our business in 2012, we’ve had a singular focus on being a comprehensive partner to our clients,” said Lipset. “As LWS continues to grow, our decision to join MAI – an organization that shares our values – allows our team to double down on bespoke client service, tap into MAI’s backend capabilities, and expand our offerings in areas such as alternative investments.”
LWS joined MAI effective March 1, 2024 as MAI’s 36th acquisition since 2018, and its fourth of 2024. This acquisition adds to MAI’s growing presence nationally and specifically in the northeastern United States.
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