MAI Acquires Florida Company, Launches Retirement Business

Cleveland-based registered investment advisor MAI Capital Management has acquired West Point Business Group, saying the deal will allow it to launch MAI Retirement, a business that provides services to retirement plans.

West Point, with $230 million in assets under management and $568 million in retirement plan assets, is headquartered in Ponte Vedra Beach, Florida, and provides retirement planning consulting services to businesses in addition to wealth management services for individuals.

West Point partners C. Clayton Perry and Keola J. Elobt will both become managing directors and group heads of MAI Retirement. Four other team members also joined the ranks of MAI Retirement. Jason Hamilton has been named retired director of MAI Retirement.

“We’ve been working with MAI for the past 5 years and pay close attention to the quality of the company and our employees,” Perry said in a statement. “We’re excited to join the MAI team and look forward to building a national platform for retirement planning across the business. “

Acquisition of West Point is 10 of MAIth Acquired since the company was acquired by Galway Holdings in September 2021.

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