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

Founded in 1995 by Bruce Wiener, WFM is headquartered in Potomac, Md. The company offers financial and retirement planning and investment management services for high-net-worth individuals and families. According to Bruce Wiener, joining MAI provides WFM with the ability to better serve clients. The deal adds approximately $120 million in assets under management.

“Wiener Financial Management adds depth to our existing mid-Atlantic team and complements MAI’s client-focused approach to meeting the needs of our clients.” states Steve Trax, MAI regional president. “Through the acquisition process, we are able to equip advisors with the depth and breadth of resources necessary to meet the needs of their clients at all life stages.”