Reston-based athlete, entertainer-focused wealth advisory firm acquired

Reston-based financial and investment advisory firm MTX Wealth Management LLC has been acquired by Cleveland-based MAI Capital Management LLC.

Terms of the deal, which closed June 14, were not disclosed.

The addition of MTX expands MAI to the Greater Washington market, allowing the company to launch a dedicated service within MAI dubbed MAI Sports, which will focus on supporting athletes, coaches and sports professionals.

MTX has nine employees who will all transition to work for MAI out of the company’s Reston office at 11710 Plaza America Drive. Founder and President Steve Trax will continue to oversee the office as MAI regional managing director and will also assume the role of managing director at MAI Sports. Chief Investment Officer Brad Smith will assume the role of managing director, portfolio manager, and senior wealth manager Ona Bolton will take over as director, wealth manager.

MTX offers financial, tax and investment advisory services to 86 families and 10 small businesses…

Read the full story from the Washington Business Journal.

More from WTOP

Log in to your WTOP account for notifications and alerts customized for you.

Sign up