Originally established as Investment Advisors International, Inc. and evolved from a handshake between Arnold Palmer and
McCormack Advisors becomes independent of IMG
Acquired by BC Investment Partners, LLC renamed firm MAI Wealth Advisors, LLC
Adopts and implements a single global investment performance presentation standard
& MLP Strategy
Expands institutional focus
Launches MAI Investment Management
as a line of business under the renamed firm, MAI Capital Management, LLC
September 30, 2015
MAI renames Dividend Plus+ Strategy “MAI Managed Volatility Strategy”
Originally established as Investment Advisors International, Inc. in 1973, IAI was an affiliate of International Management Group (IMG), the world’s premier sports and lifestyle management and marketing firm founded by Mark McCormack. IAI originally served the needs of athletes who were looking for diversified financial management.
Both IAI and IMG evolved from a handshake deal between Arnold Palmer and Mark McCormack in which Palmer accepted McCormack’s offer to handle his business affairs so that Palmer could concentrate on his golf. The concept for such a business came to McCormack after he watched another legendary golfer being distracted on the course by advisors trying to get him to address tax, investment, insurance and assorted matters. McCormack innovated to serve sports clients better by managing their assets and advising them on financial matters. Over the years, IAI expanded its client service to include not only athletes but also corporate executives, wealthy families and others.
In 2000, McCormack Advisors International, LLC was formed to succeed to IAI’s business as a joint venture between IAI and a major integrated financial institution. In 2002, the joint venture was dissolved and the firm returned to its roots as a provider of independent financial and investment advice to its clients.
McCormack Advisors International became fully independent of IMG in 2004. On January 31, 2007, BC Investment Partners, LLC, also independently owned, acquired McCormack Advisors International LLC and renamed the merged firm MAI Wealth Advisors, LLC. Through the financial crisis and its aftermath, MAI found that investors' needs were not being met in the marketplace. As a result, it developed alternative solutions to address volatility, taxes and income needs in keeping with our heritage - clients having achieved great wealth and turning to us for help keeping it. Like minded investment professionals across the country are recognizing the value of targeted solutions developed by MAI.
In 2014, MAI Investment Management was launched under the renamed firm, MAI Capital Management, LLC, as a commitment to supporting financial advisors and institutions using those solutions with dedicated communications, distribution and due diligence resources.