Old Saybrook wealth management firm sold
Summary
A Connecticut wealth management firm, Saybrook Wealth Group, has been acquired by Cleveland-based MAI Capital Management. The deal closed on May 29, and financial terms were not disclosed. Saybrook managed about $273 million in assets and served more than 300 client households. MAI will fold Saybrook under its brand and give the team access to its internal infrastructure and specialist resources. Stephen Norton will stay on as a senior wealth adviser after the transaction.
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