Amid a burst of similar announcements, another financial advisor is expanding its alts capabilities. MAI Capital Management, a Cleveland-based RIA with $3.9 billion in assets under advisement, is integrating iCapital’s tech into its custom in-house platform to manage alternative investments.
“With the support of iCapital, our team can now spend more time focusing on our diversified portfolios, balancing risk and deepening client relationships, instead of being bogged down by the operational intensity of alternative investments,” Kurt Nye, MAI’s chief investment officer and managing partner, said in a statement.
iCapital’s technology will help simplify how MAI’s advisors reconcile alternative investment and fund data, streamline document management and fund finance activities. MAI’s investment team will also be able to create custom portfolios and complete related due diligence for clients. iCapital will manage the associated oversight functions and agreed to manage a set of existing funds currently handled by MAI as part of the partnership.
“As private market allocations become an increasingly important component of diversified investment portfolios, we share a common goal with MAI to help advisors scale without losing sight of what matters—helping their clients achieve better financial outcomes.” Steve Houston, managing director and co-head of iCapital Solutions, said in a statement.
MAI specializes in comprehensive financial planning and investment management for individuals and families, including some professional athletes and entertainers. It delivers financial and estate planning, investment management, tax planning, insurance, accounting and philanthropic strategies.
MAI’s private markets platform comprises alternative funds across various strategies, including real assets, private equity, private credit, venture capital and hedge funds.
Last month, Cincinnati-based Constellation Sports Council joined MAI. MAI also completed at least eight acquisitions in 2024, including including $1.2 billion fee-only RIA Halpern Financial in October.