Cleveland-based MAI Capital Management, a registered investment adviser and wealth management firm specializing in comprehensive investment and financial planning for high-net-worth individuals and families, has acquired Traverso Chambers Private Wealth Management for an undisclosed sum.
Founded in 2009, Traverso Chambers is a registered investment adviser based in Santa Rosa, Calif., that works with high-net-worth individuals, families, foundations and business owners. With more than $549 million of client assets under management, the firm offers solutions spanning investment management, insurance, retirement, financial planning and business-succession planning.
As part of the transaction, Traverso Chambers’ co-founders Marc Traverso and Tim Chambers will both assume the title of regional president at MAI.
“Traverso Chambers is a household name in Sonoma County, and we look forward to integrating Tim, Marc and their colleagues into our firm as we continue t