MAI Capital Management has completed its acquisition of Evoke Advisors, with the combined entity now overseeing $65 billion in assets under management across 34 offices nationwide.
The leaders of MAI and Evoke spoke with ThinkAdvisor in August about their goals for the strategic partnership, noting that the Evoke transaction marks MAI’s 17th completed deal since January 2024.
“This is about enhancing capabilities and providing the highest level of service possible for our clients,” said Rick Buoncore, MAI chairman and CEO. “This partnership underscores the combined firm’s shared commitment to becoming the preeminent destination for clients and the fiduciary-minded advisors who serve them.”
Both firms specialize in serving wealthy families and entrepreneurs, including highly paid professional athletes and entertainers. The Evoke organization, in particular, serves the ultra-high-net-worth market with a high-touch approach. The brand is being maintained as the UHNW-specialist wing of MAI.
David Hou, Evoke's co-founder and managing partner, noted that existing and future clients of both firms will benefit from a broader, more integrated platform of services — including financial planning, investment management, retirement planning, family office capabilities and institutional consulting. In addition, Buoncore and Hou said, the combined firm will gain operational efficiencies by centralizing its infrastructure, integrating shared resources across technology, compliance, marketing and investment operations.
As part of the transaction closing, MAI has created an expanded office of managing partners. Buoncore said this development represents a pivotal turning point for MAI as it broadens its national footprint.
“By bringing together a group that is deeply committed to our clients and our bold vision for the future, we believe that we are even better positioned to offer a distinct and elevated experience for everyone we serve,” Buoncore said.
The expanded roster of managing partners includes Hou and fellow Evoke leaders Jane Eagle and Jay Sanders, who take on the respective roles of managing partner of Evoke operations and managing partner of family office and tax services. They join five existing managing partners: Albie MacDonald, Joe McLean, John Zaller, Jim Kacic and Kurt Nye.
From left: Rick Buoncore and David Hou
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.