Modern Wealth has taken a major leap forward in its expansion strategy as it reveals deals to integrate three new firms across as many states.
On Tuesday, Modern Wealth announced its acquisition of the Fiser Group in Kansas, with plans to complete the acquisitions of Gardey Financial Advisors in Michigan and LFM Wealth Management in North Carolina by year-end.
Combined, the deals are expected to add over $500 million in assets under management, bringing the firm’s total number of acquisitions to 13 since its launch in April 2023.
In a statement Tuesday, Jason Gordo, co-founder and president of Modern Wealth, said each of the firm's three new partners offer unique strategic value for the firm's growth trajectory.
"With Fiser Group, we enhance our tax expertise in an industry where top tax talent is waning," Gordo said. "Gardey strengthens our presence in Michigan, while LFM establishes our footprint in the fast-growing North Carolina market.”
The Lenexa, Kansas-based Fiser Group specializes in tax planning, preparation, and wealth management, with a team of nine professionals. Led by Nathan Fiser and Thomas Thornhill, the group is expected to further strengthen Modern Wealth’s existing tax team, which joined the firm in its first-ever acquisition in 2023.
In Michigan, Saginaw-based Gardey Financial Advisors will collaborate closely with Modern Wealth’s Troy office, adding six financial professionals and expanding its Midwest presence. The fee-only firm, founded in 1985 and led by Jonathan Gardey, provides comprehensive planning and investment management services.
Finally, Chapel Hill-based LFM Wealth Management focuses on personalized financial planning and investment services. Under the leadership of Larry McManus, the acquisition marks Modern Wealth’s first office in North Carolina and adds three professionals to its advisor talent pool.
Following its October acquisition of $1.4 billion Petso Financial Consultants in Idaho, Modern Wealth's latest deals will push it over the $6.5 billion AUM mark while widening its footprint to include 16 offices in 12 states.
The firm expects to continue its growth strategy with more opportunities in early 2025.
Quarterly analysis of retirement accounts highlights positive behavior.
Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.
The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.
“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.
The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
