MAI Capital Management Grows in Independence

Expansion will bring 50 new jobs to the area

MAI Capital Management, LLC (“MAI”), has announced plans to relocate their headquarters from Cleveland to Independence, Ohio after considering a number of opportunities, including locations outside of Ohio. The independent registered investment adviser specializing in comprehensive investment and financial planning for high-net-worth individuals and families intends to bring 50 new jobs to the Northeast Ohio Region and retain 130 established positions.

The Northeast Ohio community has been central to MAI’s growth throughout their 45-plus-year history. The MAI team is excited to announce their move as they continue to expand their business in the region. MAI decision-makers cited the additional space for employees and dedicated meeting rooms for clients, as well as the campus-like setting of the Independence location, as reasons for their choice.

“MAI’s move to Independence is the next phase of our growth strategy,” said Rick Buoncore, Managing Partner at MAI. “This space will allow us to better collaborate as a team, expand our capabilities to accommodate clients and reinvest in our commitment to adding jobs in the area.”

The city of Independence, the Ohio Development Services Agency, JobsOhio and Team NEO collaborated with MAI, providing key information, insights and resources to support the project and ensure the firm’s continuing confidence in the Northeast Ohio Region. 

“The City of Independence is pleased to welcome MAI to our community and believe their firm will benefit from the City’s central location and breadth of amenities,” sated Mayor Gregory P. Kurtz, City of Independence, “MAI’s ongoing growth and their desire to become part of the fabric of our community is a win-win for both the City and MAI. We look forward to a strong partnership for many, many years to come.”  

“MAI’s assessment of Independence as the right location for their headquarters reinforces what so many businesses know about the Northeast Ohio Region: that our talent pool is deep and our business community is strong and supportive,” said Team NEO CEO Bill Koehler. “Along with our local partners and JobsOhio, Team NEO is committed to working with MAI leaders to ensure the ongoing success and growth of their business.”

About MAI Capital Management

MAI Capital Management (“MAI”) is a fee-based registered investment adviser and wealth management firm based in Cleveland, with additional offices in Cincinnati, OH, Ponte Vedra Beach, FL, Nashua, NH, Irvine, CA, Reston, VA, Little Rock, AR, New York City and St. Louis and a presence in Columbus, OH and Miami. As of March 31, 2021, MAI’s assets under management totaled $10.3 billion. The firm also provides comprehensive investment management and planning services to high-net-worth individuals, families and athletes. MAI is led by Managing Partner Rick Buoncore. For more information, please visit

About Team NEO

Team NEO is a private, nonprofit economic development organization accelerating business growth and job creation throughout the 18 counties of the Northeast Ohio Region. As the designated JobsOhio Network Partner, we align and amplify local economic development efforts in the region’s 18-counties; we conduct research and data analysis to inform local conversations and influence solutions; we market the Northeast Ohio Region; and we work to increase access to jobs, education and training for the region’s 4.3 million people. We do this to build a more vibrant regional economy; one that is more talented, equitable, competitive, innovative, resilient and prosperous. For more information, visit

About JobsOhio

JobsOhio is a private nonprofit economic development corporation designed to drive job creation and new capital investment in Ohio through business attraction, retention and expansion. The organization also works to seed talent production in its targeted industries and to attract talent to Ohio through Find Your Ohio. JobsOhio works with six regional partners across Ohio: Dayton Development Coalition, Ohio Southeast Economic Development, One Columbus, REDI Cincinnati, Regional Growth Partnership and Team NEO. Learn more at Follow us on LinkedIn, Twitter and Facebook.