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MAI Capital Buys $700M HW Financial Advisors
MAI Capital was one of the most active RIA acquirers in 2020, leading a charge for mid-size firms.
Cleveland, Ohio–based MAI Capital is acquiring HW Financial Advisors, an affiliate of accounting firm Howard, Wershbale & Co (HW&Co) in Beachwood, Ohio. MAI Capital made the announcement Wednesday.  
HWFA will continue its relationship with HW&Co but under the new management of MAI Capital, according to the announcement.
HWFA is a 20-year-old registered investment advisor managing $700 million in client assets and headed by Stephen Rudolph, who formerly worked with MAI in the 1990s. Rudolph will become a managing director at the close of the deal sometime in the first quarter. ....

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