MAI Capital, Evoke Advisors Combine RIAs to Manage $60M in Assets
Registered investment adviser MAI Capital Management announced a strategic partnership to purchase Los Angeles-based RIA, Evoke Advisors. This unification of the two independent RIAs is expected to expand the combined firm’s national presence and strengthen its position with ultra-high-net-worth, i.e., UNHW, individuals, families, and institutions.
Together, the combined firm will manage approximately $60 billion across more than 30 offices nationwide. According to both companies, the collaboration also underscores the firm’s shared commitment to becoming the preeminent destination for clients and the fiduciary-minded advisers who serve them.
The terms of the deal, which is expected to close by the fourth quarter of 2025, were not disclosed.
Founded in 1973, MAI Capital had nearly $35 billion in total assets including $31.15 billion in assets under management and $3.84 billion in assets under advisement as of June 30, 2025.
Founded in 2019, Evoke Advisors manages approximately $27 billion, $12 billion on a discretionary basis and $15 billion non-discretionary, as of June 30.
Evoke’s services, which it brings to the merger, include investment advice, family office services, financial planning, trust and estate planning, tax strategy, and accounting.
“We founded Evoke with a clear vision to create a client-focused organization,” said David Hou, co-founder and managing partner at Evoke. “After an in-depth search process, we decided that joining forces with MAI gives our team the scale and resources to deepen our offerings while preserving the vision that brought us to this point. This partnership provides both firms with the opportunity to enhance our abilities to best serve clients and enable the long-term success of the firms we built.”
According to leadership of both companies, the combined firm has strengthened expertise and resources, and expanding access to multigenerational family office experience and differentiated investment opportunities, including alternatives.
“As our industry continues to evolve, growth is about far more than scale—it is about enhancing capabilities and providing the highest level of service possible for our clients,” said Rick Buoncore, chairman and chief executive officer of MAI Capital. “When discussions with Evoke began, we quickly realized that the entire group shared our client-centric culture and provided specialized offerings that complement our own. This strategic partnership cements MAI as a destination firm by leveraging Evoke’s distinguished team, along with our own people and differentiators, resulting in a distinct client experience.”
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