MAI Capital Management, a registered investment adviser (RIA) focused on investment and financial planning for high-net-worth individuals and families, has bought Prime Investment Advisors.

Prime was founded in 1991 and serves clients within the Bethesda, Md. area. The deal will expand MAI’s presence in Maryland and widen its mid-Atlantic footprint. Prime’s founder, Stephen Polan, will join MAI as senior wealth advisor and managing director.

“The continued growth of MAI’s Mid-Atlantic region is a testament to the diligent work of the MAI teams throughout our various locations,” comments Rick Buoncore, managing partner at MAI. “The addition of the Prime team will expand MAI’s vast industry knowledge, benefitting both existing and future clients. Stephen Polan brings over 30 years of industry knowledge and experience that will be a great asset to MAI. Additionally, his extensive knowledge in tax-planning will strengthen our tax practice.”