MAI Capital Deepens Texas Roots, Acquires Veteran-Owned UHNW Firm

CLEVELAND, OH – June 01, 2026 – MAI Capital Management, a Cleveland-based registered investment advisor (RIA), has announced its acquisition of Service Academy Capital Management (SACMGT), a boutique RIA located in Dallas, Texas. The move significantly expands MAI’s presence in the Lone Star State and bolsters its specialized division for ultra-high-net-worth (UHNW) clients, Evoke.

While the financial terms of the deal, which closed on May 29th, were not disclosed, the strategic implications are clear. The acquisition integrates SACMGT’s specialized expertise and client base into MAI’s growing national platform, which manages and advises on approximately $77.3 billion in assets. This marks another significant step in MAI's aggressive growth strategy and underscores a broader consolidation trend reshaping the wealth management industry.

A Strategic Push into a Booming Market

The acquisition is a calculated play for a larger share of one of the nation's most vibrant wealth centers. Texas, and Dallas in particular, has become a magnet for the ultra-wealthy. Recent reports rank Dallas as the 14th city globally for UHNW individuals, with over 4,600 residents boasting a net worth exceeding $30 million. The region's rapid growth, fueled by corporate relocations and a favorable tax environment with no state income tax, has created a highly competitive landscape for wealth managers.

MAI's leadership has explicitly identified this dynamic as a key opportunity. “The addition of the Service Academy Capital team enhances our ability to deliver comprehensive, high-touch service to clients across Dallas and the broader region, one of the country’s most dynamic markets,” said David Hou, Managing Partner of Evoke. Hou’s comments reflect the firm’s intent to plant a much larger flag in Texas.

This deal is the latest in a string of over 20 acquisitions for MAI since early 2024, a strategy accelerated by its ownership under Galway Holdings and a partnership with Wealth Partners Capital Group. The firm has consistently targeted RIAs that not only add to its assets under management but also bring specialized talent and deepen its geographic footprint. The addition of SACMGT follows the pivotal 2025 acquisition of Evoke Advisors, which became the foundation of MAI's UHNW division and more than doubled its assets at the time.

Redefining the Ultra-High-Net-Worth Experience

Beyond market expansion, the merger is being framed around an evolution in client service. Industry experts note that UHNW families are increasingly seeking more than standard investment management. The demand is for a holistic, integrated “family office” experience that can handle the complexities of multi-generational wealth.

By joining MAI, SACMGT gains access to an institutional-grade infrastructure that includes compliance, operations, portfolio reporting, and advanced research. More critically for its clients, it unlocks MAI’s comprehensive family office services, which encompass sophisticated tax and estate planning, trust services, and even lifestyle support.

“Brian and his team have built just the kind of firm we seek out—one where the client relationship comes first and the investment approach is as unique as the clients they serve,” noted Rick Buoncore, Chairman & CEO of MAI. He emphasized that SACMGT’s experience in alternative investments and complex planning will complement MAI’s platform, particularly for its most affluent clients.

David Hou elaborated on this synergy, stating, “Ultra-high-net-worth families today tend to want more than investment access. Many are looking for a full family office experience, and through this partnership, Brian and his team will be able to provide their clients access to our Family Office Service Group.”

From Wall Street to Service-Driven Finance

The story of SACMGT is as compelling as the deal itself. The firm was founded in 2015 by Brian Sears, a financial industry veteran with a resume that includes senior roles at Wall Street's most recognized institutions, including Barclays Wealth America, Neuberger Berman, Goldman Sachs, and Merrill Lynch.

Sears established SACMGT to create what he believed was a better wealth management model, grounded in transparency, customization, and a genuine alignment of interests with clients. This philosophy was a direct response to his experiences within larger, more rigid corporate structures. The firm specialized in crafting bespoke portfolios using both public and private market investments tailored to each client’s specific goals and risk tolerance.

Adding another layer to its unique identity, SACMGT is a 100% disabled veteran-owned firm. Its mission extends beyond financial returns, with a deep philanthropic commitment to providing pro-bono financial planning and advice to U.S. veterans and their families facing hardship.

This purpose-driven culture was a key factor in the merger. “I have known and worked with members of the Evoke leadership team since 1994,” said Sears. “Over the years, we often discussed finding a way to partner, and once Evoke joined MAI last year, the decision was straightforward. I found a firm that shares a philosophy similar to the one we built at Service Academy Capital Management.”

Consolidation and Competition in the RIA Landscape

Sears, who will now serve as Investment Advisor and Senior Managing Director at MAI, will continue to lead his client relationships and investment strategy, ensuring continuity of service. His decision to join a larger platform reflects a powerful current within the wealth management industry. Independent advisory firms are increasingly joining larger entities to gain scale, offload administrative and compliance burdens, and access a broader toolkit of solutions for their clients.

MAI's acquisition of SACMGT sharpens the competitive edge in the crowded Dallas market, challenging both global private banks and established local RIAs. By integrating a respected boutique firm known for its bespoke service and veteran-focused mission, MAI is signaling that its growth model is about more than just asset accumulation; it is about acquiring talent and culture that resonates with a specific, highly sought-after client demographic.

As the wealth management sector continues to consolidate, the fusion of boutique-level personalization with institutional-scale resources is becoming the new standard for serving the complex needs of the ultra-wealthy. SACMGT's decision to join MAI is a testament to this evolving landscape, where experienced, independent-minded advisors are finding new ways to enhance their value proposition by partnering with platforms that share their client-first ethos.