Modern Wealth Management has marked its second year in business with the acquisition of OFM Wealth, a Chicago-based registered investment advisory firm. The transaction pushes Modern Wealth’s total assets under management (AUM) past $7.5 billion and adds to its growing national presence, a news release highlighted.
The acquisition, announced Tuesday, is the 16th for Modern Wealth since its founding in April 2023. The firm, backed by $200 million in equity financing from Crestview Partners, has established a foothold in 13 states and now operates 18 client-facing offices across the country.
“Our acquisition strategy has been intentional and focused since day one,” said Jason Gordo (pictured, left), co-founder and president of Modern Wealth. “Establishing a presence in Chicago gives us a foothold in all major regions of the country. Bringing OFM Wealth into the Modern Wealth family accelerates our growth and further cements our nationwide presence.”
Founded in 1981 by Sam Ogrizovich (pictured, right), OFM Wealth is a fee-only firm that offers services in financial planning, investment management, tax, estate and retirement planning. Its client base includes more than 175 households across a range of demographics, including business owners, retirees and multigenerational families.
“Modern Wealth stood out in its alignment with the way we approach comprehensive wealth management,” said Ogrizovich, who will serve as managing director following the transaction. “As our team and clients integrate into Modern Wealth, we’re looking forward to leveraging the added depth of services, centralized support and the enhanced ability to focus more fully on client relationships.”
Modern Wealth follows an acquisition-based growth model, complemented by its “Organic Growth Hub,” a platform that provides internal advisors with lead generation tools, marketing strategies, and operational support. The firm’s team includes more than 50 financial advisors and over 150 professionals, including certified financial planners (CFPs), chartered financial analysts (CFAs), and certified public accountants (CPAs).
OFM Wealth was represented by DeVoe & Company, a consulting and investment banking firm specializing in RIAs.
Nine-month electronic trading freeze and share lending program at the center of dismissed claim.
Meanwhile, Rossby Financial's leadership buildout rolls on with a new COO appointment as Balefire Wealth welcomes a distinguished retirement specialist to its national network.
With a smaller group of companies driving stock market performance, advisors must work more intentionally to manage concentration risks within client portfolios.
Professional athletes are often targets of scam artists and are particularly vulnerable to fraud.
The brokerage giant tells Wall Street it will use artificial intelligence to reach clients it has never been able to serve — and turn the technology's perceived threat into a competitive edge.
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
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
