At a glance
- OG Private Wealth, based in California, and Waypoint Wealth Counsel of Atlanta were the sellers; both transactions were official August 14.
- For advisors on those teams, the purchase price is the first number.
- OG Private Wealth manages about $551 million.
MAI Capital Management closed two acquisitions last week that together added roughly $1.04 billion in assets, according to PLANADVISER. OG Private Wealth, based in California, and Waypoint Wealth Counsel of Atlanta were the sellers; both transactions were official August 14. Terms were not disclosed.
For advisors on those teams, the purchase price is the first number. The one that matters is what the new owner expects after the close.
OG Private Wealth manages about $551 million. The firm is fee-only, serving more than 300 households. Brothers Ryan and Mike O'Donnell founded it, building a practice around estate planning, pre-sale planning, and tax-efficient strategies. Those services get stickier as client relationships age, which is why acquirers pay up for them.
Waypoint contributes roughly $490 million. Its client roster spans more than 100 households, with a focus on entrepreneurs, executives, and multigenerational families. Brad McGrew and Matthew Woods started the firm in 2014. PLANADVISER reports they will remain in place as market leaders for MAI, ensuring continuity of service for clients.
The coverage does not address what role the O'Donnell brothers will play after the close.
MAI runs 42 offices. Headcount is above 700. As of June 30, the firm managed $73.8 billion for clients. Another $6.6 billion sat under advisement. Its offerings span financial planning, tax services, family office capabilities, and institutional consulting.
The buyer's firepower comes from Carlyle, which took a majority stake in MAI in March at a valuation above $2.8 billion. That stake is the newest chapter in a relationship that began in 2021, when Carlyle backed Galway Holdings' acquisition of MAI. Carlyle also acquired a minority interest in Prime Capital Financial this month, and in 2023 it added a growth investment in CAPTRUST. The portfolio forms a clear pattern: retirement-focused RIA assets.
A $2.8 billion backer
For an advisor at either firm, the sale changes the career math. The check is the easy part. The harder part is what a multi-billion-dollar platform typically demands: new compliance systems, new technology, a new committee structure, and a reporting calendar set by a private-equity parent. Waypoint's founders will keep leading their team, but leading inside MAI is not the same as owning the firm.
For other sellers, the deal's shape is the instruction. A sub-$1 billion firm with planning-heavy practices can attract a private-equity-backed aggregator. The price is undisclosed, but the structure is not: the new owner carries the compliance and technology load while the client-facing teams stay in place.
Reported by the Succession & selling a firm desk from PLANADVISER. Published . Corrections