MAI Capital Management Appoints Matt Barthel as Managing Partner to Lead Strategic Advisor Recruiting and Support Nationwide Expansion
MAI Capital Management, a registered investment advisor (RIA) focused on helping clients simplify, protect, and grow their wealth, has appointed Matt Barthel as managing partner of strategic advisor recruiting. In his new role, Barthel will lead initiatives aimed at expanding the firm’s financial advisor network across the United States, strengthening its market presence, and identifying opportunities to bring experienced advisory teams into the organization.
The appointment comes as MAI continues to pursue nationwide expansion following a majority investment from global investment firm Carlyle. Barthel will play an important role in the company’s growth strategy by identifying potential advisor partnerships, supporting the recruitment of established financial professionals, and helping the firm expand into additional markets and specialized areas of wealth management.
With experience spanning journalism and wealth management data operations, Barthel brings a background that includes approximately 35 years in journalism and 20 years working in wealth management data operations. His professional experience includes work at Barron’s, where he oversaw the publication’s well-known financial advisor rankings. This combination of industry knowledge, professional relationships, and experience evaluating financial advisory businesses is expected to support MAI’s efforts to identify advisors who align with its client-focused approach.
As competition for experienced financial advisors continues across the wealth management industry, firms are increasingly focused on attracting established teams that can bring client relationships, specialized expertise, and opportunities for long-term growth. MAI’s appointment of Barthel reflects its emphasis on expanding through strategic advisor recruitment while maintaining a consistent culture and service philosophy.
MAI Strengthens Its Strategic Advisor Recruitment Strategy
MAI Capital Management has made advisor recruitment a central component of its growth plans. Through Barthel’s appointment, the firm aims to strengthen its ability to identify and recruit financial advisors whose professional goals and approach to client service align with MAI’s business model.
Financial advisors play an important role in helping individuals, families, executives, business owners, and other clients navigate complex financial decisions. Their responsibilities can include investment management, financial planning, wealth preservation, and coordinating strategies for clients with diverse financial needs.
For established advisors, choosing the right firm can influence the resources available to support clients, the flexibility to deliver financial advice, and the opportunities to build a sustainable business. Firms seeking to recruit experienced advisors must therefore demonstrate more than growth potential. They also need to offer an environment that supports professional development, operational efficiency, and strong client relationships.
MAI intends to use Barthel’s industry relationships and experience to identify advisor teams that fit these objectives. His work will include driving inorganic business development initiatives designed to expand the firm’s reach and strengthen its presence in key markets.
Inorganic growth generally involves expanding a business through acquisitions, combinations, or the recruitment and integration of existing teams rather than relying exclusively on organic growth. In wealth management, recruiting established advisor teams can provide firms with opportunities to enter new geographic markets, develop specialized capabilities, and broaden the range of clients they serve.
MAI’s strategy places particular emphasis on finding advisors who share its client-first culture. The firm intends to pursue growth while ensuring that new team members are aligned with its values and approach to comprehensive wealth management.
Leadership Emphasizes Cultural Alignment and Client Service
Rick Buoncore, chairman and chief executive officer of MAI Capital Management, highlighted the importance of attracting experienced financial advisors as the firm continues to expand.
“One of our biggest initiatives is to attract the best and brightest financial advisors and bring them on board to broaden our reach in the marketplace,” Buoncore said.
He emphasized that cultural alignment is a fundamental requirement for the firm as it considers potential recruits. According to Buoncore, MAI’s long-term strength depends on ensuring that its growing team reflects a shared set of values and remains committed to serving clients.
“Cultural fit isn’t just a priority for us, it’s non-negotiable because the strength and future of the firm are tied to our full team reflecting MAI’s shared set of values,” he said.
Buoncore described Barthel as a “triple threat,” pointing to his connections across registered investment advisors, wirehouse firms, and sports-focused financial advisors. These relationships give Barthel access to different segments of the financial advisory market and may help MAI identify opportunities beyond traditional recruitment channels.
Wirehouses are large financial services firms that typically provide investment advice, brokerage services, research, and other financial products through extensive advisor networks. Independent RIAs, meanwhile, operate under a different business model and provide investment advisory services subject to applicable regulatory requirements. Sports-focused advisors specialize in serving professional athletes and others in the sports industry, whose financial planning needs can differ from those of other client groups.
Barthel’s familiarity with these segments could help MAI identify experienced professionals with a range of backgrounds and specialties. It may also help the firm develop relationships with advisors seeking additional resources, a different operating environment, or opportunities to expand their practices.
Buoncore said Barthel’s expertise and relationships would support MAI’s efforts to extend its advisor network into new locations and specialized markets while preserving the firm’s focus on client needs.
Experience at Barron’s Supports Industry Knowledge
Barthel brings a distinctive professional background to his new position. In addition to approximately two decades of experience in wealth management data operations, he spent nearly 35 years in journalism.
His experience at Barron’s included overseeing the publication’s financial advisor rankings, which have played a prominent role in the wealth management industry. Advisor rankings and related industry research can provide information about advisory professionals, their businesses, and their positions within the broader market.
Working with financial advisor rankings requires an understanding of the advisory industry and the information used to evaluate financial professionals and their practices. This experience can provide useful context when assessing the structure of the market, identifying established advisors, and understanding differences between advisory businesses.
Barthel’s background may also help him recognize the factors that distinguish firms and advisor teams, including their areas of specialization, business models, professional networks, and growth objectives.
For MAI, these capabilities are relevant to a recruitment strategy that extends across multiple advisor segments. Identifying potential recruits requires an understanding of both the individuals involved and the organizations in which they operate. Relationships built over many years in the industry can help support initial discussions and establish a foundation for evaluating whether a potential partnership would be mutually beneficial.
Barthel’s experience in wealth management data operations adds another dimension to his background. As advisory firms increasingly use data to evaluate business performance, monitor growth, and understand industry developments, familiarity with wealth management information can be valuable in strategic business development.
Together, his experience in journalism, industry data, and advisor relationships is expected to support MAI’s recruitment efforts as the firm looks to expand its geographic reach and advisory capabilities.
Focus on Advisor Lift-Outs and Strategic Growth Markets
In his new position, Barthel will report directly to Jim Kacic, a managing partner at MAI Capital Management. He will work alongside the firm’s Business Development team to advance strategic growth initiatives in key markets, with particular attention to advisor lift-outs.
An advisor lift-out generally involves recruiting an established group of financial advisors from another firm. Depending on the circumstances, the team may bring experience serving existing clients, specialized knowledge, and established business relationships to its new organization.
Lift-outs can be an important growth channel for wealth management firms because they offer an opportunity to recruit experienced teams rather than build every advisory practice from the ground up. However, these transitions can involve operational, contractual, regulatory, and client-service considerations that require careful planning.
For advisors considering a move, important factors may include the support available from the new firm, technology and operational resources, the ability to maintain strong client relationships, and the opportunity to develop their businesses over time.
MAI’s recruitment strategy is intended to identify teams that would benefit from the firm’s resources and operating environment while sharing its emphasis on comprehensive client service.
Barthel’s role will include helping the firm identify opportunities in selected markets and develop relationships with advisors who could contribute to its long-term expansion. Working with the Business Development team will also allow him to coordinate recruitment efforts with MAI’s broader strategic priorities.
The emphasis on advisor lift-outs suggests that MAI is interested in experienced teams capable of contributing established expertise and relationships. At the same time, the company’s stated focus on cultural fit indicates that potential recruits will be evaluated not only for their business opportunities but also for their alignment with the firm’s approach to clients.
Carlyle Investment Provides Context for MAI’s Expansion
MAI’s appointment of Barthel follows a majority investment from Carlyle, which provides important context for the firm’s continuing expansion strategy.
Investment from a major investment firm can support a wealth management company’s efforts to develop its business, strengthen operations, and pursue strategic opportunities. In a competitive advisory market, resources and a clear growth strategy can help firms evaluate opportunities to recruit established teams, enter additional markets, and broaden their capabilities.
MAI’s stated priorities include increasing its national presence and expanding its advisor network. Barthel’s appointment adds a dedicated senior leader focused on strategic advisor recruitment, complementing the firm’s existing Business Development team.
The company’s approach combines growth with an emphasis on maintaining its established culture. This is particularly relevant when a wealth management firm recruits teams from different organizations, each of which may have its own processes, service models, and professional traditions.
Integrating new advisors successfully requires more than bringing businesses together. Firms must also ensure that incoming professionals have access to appropriate resources and can continue serving clients effectively. Cultural compatibility can help support this process by establishing shared expectations around communication, client relationships, and business practices.
MAI’s leadership has indicated that these considerations will remain central to its recruitment decisions as the company expands.
Barthel Looks to Help Advisors Find the Right Platform
Barthel expressed enthusiasm about joining MAI and contributing to its growth.
“I’ve enjoyed watching MAI’s ascension as a fast-growing and respected RIA, and I’m excited for the opportunity to play a key role in driving that growth,” Barthel said.
He also highlighted the importance of helping experienced advisors find an organization where they can develop their businesses and meet their clients’ needs.
“I’m looking forward to working with the team and helping leading advisors in the industry find a place where they are supported with the resources, expertise and environment they need to thrive and to serve their clients in a holistic way,” he added.
His comments reflect the role that a firm’s operating environment can play in an advisor’s decision to pursue a new opportunity. Experienced financial professionals often seek organizations that provide the resources needed to manage complex client relationships while allowing them to focus on delivering advice.
A holistic wealth management approach can involve coordinating investment decisions with broader financial planning considerations. Depending on each client’s circumstances, this may include wealth preservation, retirement planning, liquidity needs, business ownership considerations, and the transfer of assets between generations.
Advisors who work with clients facing complex financial decisions may value access to specialized expertise and operational support. MAI’s recruitment efforts are intended to identify professionals who can benefit from such an environment while contributing to the firm’s broader service offering.
Barthel’s experience across different advisor segments is expected to help MAI engage with professionals whose needs and business goals vary. His appointment also signals the company’s intention to continue investing in the relationships and recruitment capabilities that underpin its expansion.
Competition for Financial Advisors Shapes Wealth Management Growth
The wealth management industry continues to place significant emphasis on attracting and retaining experienced financial advisors. As client needs evolve and advisory businesses consider their long-term plans, firms may compete to recruit teams with established client relationships, specialized expertise, and opportunities for continued growth.
For independent RIAs, advisor recruitment can help broaden geographic coverage and strengthen service capabilities. Established teams may bring knowledge of local markets, experience with specific client groups, and business practices developed over many years.
However, expansion also requires firms to consider how new teams will fit into their operating models and client-service standards. Recruiting professionals who share similar values can help support a consistent client experience as an organization grows.
MAI’s appointment of Barthel reflects its intention to pursue these opportunities through a focused recruitment strategy. His industry relationships, experience at Barron’s, and background in wealth management data operations provide a combination of skills relevant to identifying and engaging potential recruits.
By working with Jim Kacic and the Business Development team, Barthel will help advance the firm’s efforts to recruit advisor teams and expand into new markets and specialties.
The appointment of Matt Barthel as managing partner of strategic advisor recruiting marks another step in MAI Capital Management’s effort to expand its national presence. His responsibilities will center on identifying opportunities for inorganic growth, developing relationships with experienced financial advisors, and helping recruit teams that align with the firm’s client-first culture.
Barthel’s nearly 35 years in journalism and 20 years in wealth management data operations, including his work overseeing Barron’s financial advisor rankings, provide him with a broad perspective on the advisory industry. His connections across RIAs, wirehouse firms, and sports-focused advisors are expected to help MAI reach professionals across different business models and specialties.
Supported by its Business Development team and reporting structure under managing partner Jim Kacic, Barthel will focus particularly on advisor lift-outs and strategic opportunities in key markets.
As MAI continues its expansion following Carlyle’s majority investment, the firm has identified experienced advisor recruitment as an important component of its growth strategy. Its leadership has emphasized that future expansion must preserve the values and service standards that define the organization.
Through this appointment, MAI aims to strengthen its ability to attract established advisory teams, broaden its reach across the United States, and provide financial advisors with the resources and environment needed to serve clients through a comprehensive wealth management approach.
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