MONTEREY, Calif.--(BUSINESS WIRE)--Modern Wealth Management (“Modern Wealth”), a national registered investment advisory (RIA) firm founded to meet the evolving needs of today’s financial professionals and their clients, is pleased to announce its launch with an investment from funds managed by Crestview Partners (“Crestview”), a leading private equity firm with significant experience investing in financial services businesses. Led by co-CEOs Gary Roth and Mike Capelle, as well as President Jason Gordo, Modern Wealth aims to acquire select RIAs in strategic locations across the United States with the objective of creating an integrated enterprise that empowers the success of financial advisors with growth-accelerating client service resources, specialized planning experts and modern technology.
Modern Wealth plans to take a “full team” approach to delivering comprehensive financial advice. The firm’s client experience will be guided by a dedicated team of specialists—such as CFPs, tax planners, risk managers, CFAs, estate planners and others—to support advisors in the provision of holistic client service. Modern Wealth is also committed to helping its advisors prospect more effectively with a lead-generation process that pairs individuals and families with advisor teams that match their unique needs. The firm’s specialized service model draws upon its leadership team’s formidable experience spent building United Capital’s national footprint and supporting hundreds of advisors.
“When I joined United Capital, it was because I wanted to add my expertise to something larger,” said Gordo, who was one of the architects of FinLife Partners at United Capital and Head of Advisor Growth at Goldman Sachs Personal Financial Management (“PFM”). “Upon meeting Mike, Gary and the rest of the team, I recognized a tremendous opportunity and quickly made the decision to join them in creating what I believe to be something special. Here at Modern Wealth, we’re bringing a fresh partnership approach with an end goal of modernizing the way a wealth management firm serves and cares for clients.”
“We are really excited to be partnering with Gary, Mike and Jason. It’s one thing to have a great conceptual model, but assembling the team to execute is quite another,” said Dan Kilpatrick, Partner and Head of Financial Services at Crestview. “This leadership team has executed over 90 acquisitions of RIAs, building United Capital to $25 billion of AUM with over 220 financial advisors and 22,000 clients in over 70 offices when it was sold to Goldman Sachs. We believe the secular tailwinds for RIAs remain robust, as individuals increasingly seek client-first financial advice. We’re proud to support Modern Wealth in its efforts to redefine success for advisors and clients alike.”
Modern Wealth is already in numerous discussions with RIAs that are interested in joining as anchor offices as the firm builds out its national footprint. That’s due in part to Modern Wealth’s approaches to lead and prospect management, organic growth programs, client services and the delivery of personalized advice.
“We’re thrilled to be working alongside Crestview as we usher in a new solution for our industry,” offered Roth, who was Chief Business Officer and Chief Financial Officer at United Capital as well as Head of Advisor Strategy at Goldman Sachs PFM. “We were drawn to Crestview due to both its experience in the space and its track record of partnering with management teams to build rapidly growing businesses. We’re confident that our proven experience and approach, bolstered by capital and a value-add partner in Crestview, positions us extremely well to be an active acquirer in the industry while continuing to better the advisor and client experience.”
“Advisors are being left behind as the leading edge of industry is forcing them to broaden their scope of services,” said Capelle, who was Chief Platform Officer at United Capital and Head of Product at Goldman Sachs PFM. “Clients want clarity and control of their finances, and we plan for our platform to extend beyond investment management to offer customized, digital views of their financial lives, how they are progressing toward key goals and the benefit they are receiving from engaging with Modern Wealth.”
Ardea Partners LP served as the exclusive financial advisor to Modern Wealth.
About Modern Wealth Management
Modern Wealth Management is a national registered investment advisory (RIA) firm reimagining the delivery of financial advice. Co-Founded by former United Capital executives Gary Roth, Mike Capelle and Jason Gordo, Modern Wealth was designed to anticipate the needs of Americans at every stage in life by providing a full suite of wealth management services carried out by a team of experts specializing in financial planning, tax planning and preparation, personal banking, estate planning and more. Strategically acquiring high-growth RIAs across the country, Modern Wealth plans to establish regional offices in key locations spanning the United States. To learn more about Modern Wealth’s next-generation platform and advice delivery model, please email firstname.lastname@example.org or visit modwm.com.
Registration with the U.S. Securities and Exchange Commission does not imply a certain level of skill or training. Past performance is not necessarily indicative of future results.
About Crestview Partners
Founded in 2004, Crestview is a private equity firm focused on the middle market. The firm is based in New York and manages funds with approximately $10 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and backgrounds in private equity, finance, operations and management. Crestview has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: financial services, industrials and media. For more information, please visit us at crestview.com.