MAI Capital Management has acquired MTX Wealth Management.
The addition of MTX expands MAI’s footprint to the greater Washington, D.C., market, serving high-net-worth entrepreneurs and families, while also bolstering its growing specialty practice supporting athletes, coaches and professionals in the sports industry.
Located in Reston, Va., MTX is a full-service financial and investment adviser to high-net-worth individuals, including professional athletes and entertainers. Under the leadership of founder and president Steve Trax, MTX has focused on providing exceptional service and support to its clientele. Trax will continue to oversee the office as MAI regional director.
Concurrent with the acquisition, MTX will consolidate the advisers who assist professional athletes and coaches into a dedicated service group within MAI, branded MAI Sports. MAI has its roots in serving sports-industry clients, as the firm was founded over 45 years ago on a “handshake de