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.
The "Crypto Mom" departure would leave the SEC commission with just two members and no Democratic commissioners on the panel.
IFP Securities’ owner, Bill Hamm, has a long-term plan for the firm and its 279 financial advisors.
Meanwhile, a Osaic and Envestnet ink a new adaptive wealthtech partnership to better support the firm's 10,000-plus advisors, and RIA-focused VastAdvisor unveils native integrations with leading CRMs.
A former Alabama investment advisor and ex-Kestra rep has been permanently barred and penalized after clients he promised to protect got caught in a $2.6 million fraud.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
