Strategic RIA acquirer Modern Wealth Management has hit a new AUM milestone with its latest deal in California as Aspen Standard Wealth, a self-style long-term partner for independent advisory firms, has formed another RIA partnership in Connecticut.
Modern Wealth has acquired Kaye Capital Management in California, while Aspen Standard Wealth has added SKY Investment Group in Connecticut to its growing platform.
Modern Wealth’s latest asset purchase deal brings in a fee-only RIA based in El Segundo with more than $700 million in assets under management and an additional $300 million in assets under advisement. With the acquisition, Modern Wealth now manages over $8.5 billion in assets.
KCM marks the firm’s fourth acquisition of 2025 and its third this year in California.
Founded in 2000, Kaye Capital Management serves more than 200 households and over 400 retirement plan clients, ranging from midsize to large employers. The firm’s leadership, including Ken Watten and David Hilton, will join Modern Wealth as managing directors.
The acquisition bolsters Modern Wealth’s institutional retirement planning capabilities, an area the firm has continued to invest in since its 2024 purchase of Beltz Ianni.
“KCM joining Modern Wealth marks another significant milestone as we deepen our reach in California,” said Jason Gordo, co-founder and president of Modern Wealth. “David and Ken have built an exceptional firm with deep community roots and real expertise across both personal wealth management and institutional retirement planning.”
Watten said the decision to join Modern Wealth reflects a desire to delegate firm management responsibilities and refocus on clients. “As KCM grew, so did the complexity of running the business. David and I found ourselves spending more time managing the firm and less time doing what we’re most passionate about—serving clients,” he said.
Meanwhile, Aspen Standard Wealth announced it has acquired SKY Investment Group, an RIA in Hartford, Connecticut, with $880 million in assets.
Founded in 2005, SKY is known for its focus on multigenerational wealth management and education planning for high-net-worth families. The acquisition is Aspen’s third to date, following previous deals involving New England Private Wealth Advisors in April and Summitry last year.
Aspen says its partnership model emphasizes long-term ownership and support for firm identity and continuity, contrasting with short-term, exit-focused acquisition strategies.
CEO Aly Kassim-Lakha said SKY reflects the kind of firm the company seeks to build around.
“SKY is exactly the kind of firm we built Aspen for – deeply client-centric, values-led, and forward-thinking,” he said.
SKY founder Robert Bingham said the deal with Aspen offers continuity and strategic support.
“In Aspen, we’ve found a durable platform and a partner that respects our legacy, culture, and long-term vision for the future,” he said.
Concerns about outliving savings and healthcare costs are reshaping how "Peak 65" Americans and advisors approach income planning.
Some investors recently have seen million dollar plus decisions by FINRA arbitration panels involving complex products decisions go their way.
Former advisor Isaiah Williams allegedly used the stolen funds from ex-Dolphins defensive safety Reshad Jones for numerous personal expenses, according to police and court records.
Sen. Warren has warned of private market investment risks due to opacity, illiquidity, and past regulatory issues.
Use of the technology is growing and asset managers see transformative benefits.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
