MAI Capital Management buys firm in Little Rock, Ark. The investment adviser and wealth management firm announced in a news release on Monday, Dec. 14, that it has acquired Smith Capital Management Inc. in a deal that "establishes MAI's presence in Little Rock, Ark., and provides a foundation to facilitate future growth and expanded service across the Northwest region of the state." The deal closed on Friday, Dec. 11, and increases MAI's assets under management by more than $500 million. Financial and legal terms of the deal were not disclosed. MAI said in the release that Smith Capital began offering wealth management services more than 35 years ago and serves high-net-worth clients. The firm also offers financial counsel to foundations and oversees the management of corporate retirement plans. The senior partners of Smith Capital, Stephen Chaffin and Jay White, will become regional managing directors at MAI.