MAI Capital Recruited Industry Veteran for Adviser Growth
Wealth management firms are increasingly leveraging specialized recruitment talent to scale their adviser headcounts.
Updated on Oct. 12, 2026 in Corporate Finance
Live Poll
Do you support wealth management firms aggressively recruiting and expanding their network of financial advisers?
MAI Capital Management added Matt Barthel as managing partner of strategic adviser recruiting, tasking him with expanding the firm's network. The move aims to bolster the firm's adviser lift-out efforts following a majority-stake acquisition by The Carlyle Group.
Why it matters
The firm is prioritizing specialized recruitment expertise to accelerate its growth strategy in a competitive wealth management market. This signals a shift toward hiring veterans with deep industry relationships to secure talent through strategic lift-outs.
MAI Capital Management manages $73.8 billion in assets and advises on an additional $6.6 billion as of June 30, 2026. The firm was valued at over $2.8 billion during its March 2026 majority-stake acquisition by The Carlyle Group.
The players
MAI Capital Management
A wealth management firm with over $73.8 billion in assets under management and a $2.8 billion valuation.
Matt Barthel
A veteran with 35 years of experience in journalism and 20 years in wealth-management data operations.
Jim Kacic
Managing Partner at MAI Capital Management who oversees operations and recruitment leadership.
The Carlyle Group
A global private equity firm that acquired a majority interest in MAI Capital Management in March 2026.
The details
Barthel will oversee the firm's recruitment strategy, focusing specifically on adviser lift-outs to bring entire teams into the MAI platform. His role draws on 20 years of experience in wealth-management data operations and 35 years in journalism, leveraging a deep understanding of adviser rankings and industry networks. The firm reports to Managing Partner Jim Kacic as part of its ongoing expansion efforts.
Timeline
March 2026: The Carlyle Group acquired a majority stake in MAI Capital Management.
June 30, 2026: The reporting date for assets under management and advisement.
October 12, 2026: Matt Barthel officially joined the firm as managing partner.
Market Landscape
This move follows the 2026 Carlyle Group majority-stake acquisition of MAI Capital Management, which set the firm's current growth mandate. It reflects a broader industry trend where private equity-backed firms utilize institutional capital to fund high-level recruiting and team lift-outs.
Firms should monitor how institutional capital backing forces competitive pressure on talent acquisition and adviser retention. Operators should assess whether their own recruitment strategies rely on legacy networks or if hiring specialized, data-driven leadership is necessary to scale.
The takeaway
The move underscores the growing premium on data-backed recruiting in wealth management to drive inorganic growth. Operators should evaluate their firm's competitive position regarding adviser retention and whether their recruitment leadership possesses the specific industry data expertise to compete for top-tier talent.
Further reading
For more on industry consolidation, visit Corporate Finance.
Live Poll
Do you support wealth management firms aggressively recruiting and expanding their network of financial advisers?
