MAI Capital Acquires Saybrook Wealth Group for $273M

MAI Capital Management has significantly expanded its operational reach in the Northeast by acquiring Saybrook Wealth Group, a Connecticut-based registered investment adviser. This strategic move integrates approximately $273 million in client assets into MAI's growing national platform, reinforcing its commitment to serving affluent households and families across key U.S. markets. The transaction, finalized on May 29, 2026, marks another step in MAI's ongoing expansion strategy within the wealth management sector.

Founded in 2007 by Stephen Norton, Saybrook Wealth Group has cultivated a strong reputation for its fee-only fiduciary approach, catering to over 300 households. The firm's expertise spans comprehensive financial planning, including intricate retirement income strategies, tax optimization, and estate planning. A particular area of specialization for Saybrook is providing tailored financial guidance for families with special needs dependents, a niche that resonates personally with its founder.

The integration will see Stephen Norton join MAI Capital Management as a Senior Wealth Advisor, continuing his client-facing responsibilities. This acquisition grants Saybrook clients access to MAI's extensive national infrastructure, encompassing robust operational support, advanced technology solutions, marketing resources, and human capital management. Furthermore, Saybrook's team will benefit from MAI's deep bench of over 150 specialists in investment management, tax advisory, estate planning, and family office services, enhancing the depth and breadth of services available.

MAI Capital Management, established in 1973, has grown into a substantial player in the wealth management industry, overseeing or advising on approximately $77.3 billion in client assets as of April 30, 2026, across more than 40 offices nationwide. The firm employs over 700 professionals dedicated to providing comprehensive financial solutions. This latest acquisition underscores MAI's strategy of integrating well-regarded regional firms to enhance its national presence and service capabilities.

This consolidation aligns with a broader trend in the wealth management industry, where firms are increasingly seeking scale and enhanced capabilities through mergers and acquisitions. The Registered Investment Adviser (RIA) sector, particularly for firms managing between $100 million and $500 million in assets, continues to be an attractive target for larger consolidators aiming to capture market share and operational efficiencies. The demand for specialized financial planning, especially for complex family situations, remains robust, driving value for firms with demonstrated expertise.

Rick Buoncore, Chairman and CEO of MAI Capital Management, highlighted the alignment of values, stating, “What stood out to us about Stephen and the Saybrook team is how intentionally they’ve grown their practice around listening first and planning second. Their approach is deeply personal, highly customized and rooted in long-term relationships, which aligns directly with how we serve clients at MAI.” Stephen Norton echoed this sentiment, emphasizing the benefits of MAI's infrastructure: “MAI should give us the scale, planning resources and infrastructure support to take those responsibilities off our plate so we can stay focused on delivering thoughtful advice to our clients.”