MAI Capital Management, a Cleveland-based registered investment advisor (RIA), has announced a strategic partnership with Los Angeles-based RIA, Evoke Advisors, creating a national firm managing approximately $60 billion in assets under management and advisement. The combination brings together two complementary businesses, significantly expanding their national presence and strengthening services for ultra-high-net-worth individuals across more than 30 offices nationwide. As of June 30, MAI managed nearly $35 billion in assets, while Evoke Advisors managed about $27 billion. The transaction is expected to close by the fourth quarter of 2025, though the financial terms were not disclosed.
Evoke Advisors was founded by entrepreneurs and investors with a client-focused approach and a fiduciary commitment to delivering comprehensive solutions. The firm has collaborated with MAI in various capacities for over two decades, offering services including investment advice, family office solutions, financial planning, trust and estate planning, tax strategy, accounting, and institutional consulting. The partnership is designed to enhance capabilities, allowing the combined firm to provide a higher level of service and specialized offerings to clients.
Rick Buoncore, chairman and CEO of MAI, emphasized that the partnership is driven by shared client-centric values and complementary expertise, which will allow the firm to expand its wealth management and institutional consulting services. David Hou, co-founder and managing partner at Evoke, added that joining MAI offers scale and resources to deepen their offerings while preserving the vision and client-first culture that guided Evoke’s founding.
The merger also strengthens operational efficiencies by centralizing infrastructure and integrating shared resources across technology, compliance, marketing, investment operations, and other key areas. In addition, the combined firm will expand access to multigenerational family office experience and differentiated investment opportunities, including alternatives. MAI’s long-standing commitment to high-quality financial guidance, particularly for athletes and entertainers, will continue to be a cornerstone of its services.
Legal and financial advisory support for the deal includes AO Shearman as legal counsel to MAI, Ardea Partners as exclusive financial advisor, and Ropes & Gray as legal counsel to Evoke Advisors.
