Modern Wealth Management Adding $500 Million AUM With Several Acquisitions

Modern Wealth Management, a registered investment advisory (RIA) firm created to meet the evolving needs of today’s financial professionals and their clients, announced the acquisition of the Lenexa, Kansas-based Fiser Group. Additionally, Modern Wealth revealed plans to finalize the acquisitions of Saginaw, Michigan-based Gardey Financial Advisors and Chapel Hill, North Carolina-based LFM Wealth Management by year-end.

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These three acquisitions, structured as asset purchase agreements, represent over $500 million in expected additional assets under management (AUM), bringing Modern Wealth’s total acquisitions to eight this year and 13 since its launch in April 2023.

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Led by Nathan Fiser, CFP, and Thomas Thornhill, CPA, Fiser Group is a hybrid tax, accounting, and wealth management firm offering comprehensive tax planning, preparation, and financial planning services to families, individuals, and businesses. Modern Wealth has further bolstered its tax management business through this acquisition by integrating a competent team of nine tax and financial professionals. Fiser Group will augment Modern Wealth’s existing team in Lenexa, Kansas, which marked its inaugural acquisition following its launch in April 2023.

Working closely with Modern Wealth’s Troy, Michigan-based office, Gardey is a fee-only wealth management firm that offers all-encompassing financial planning and investment management services to families, individuals and businesses. Launched in 1985 and led by Jonathan Gardey, CFA, CFP, Modern Wealth’s pending acquisition of Gardey strengthens its presence in the greater Detroit area and adds six experienced financial professionals to its growing team.

Modern Wealth is also solidifying its presence more in the Southern region with the forthcoming acquisition of LFM, an independent, fee-only advisory firm led by Larry McManus. And LFM offers personalized financial planning and investment management services to families, individuals and small businesses. Executing upon its national expansion strategy, Modern Wealth is establishing a new office in North Carolina and onboarding three financial professionals as a result of this acquisition.

Fiser Group, Gardey and LFM will benefit from Modern Wealth’s robust wealth management platform, providing them access to expanded client service offerings, including financial planning, tax planning and preparation, estate planning, investment management and more. And the firms can also utilize Modern Wealth’s “Organic Growth Hub,” which offers comprehensive strategies for lead generation, distribution and client onboarding, and business support resources such as marketing, technology, compliance, human resources and operations. Following these acquisitions, Fiser Group, Gardey and LFM will adopt the Modern Wealth brand.

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These deals will increase Modern Wealth’s footprint to 16 client-facing offices across 12 states, following the recent acquisition of $1.4 billion Boise, Idaho-based Petso Financial Consultants through an asset purchase arrangement. With a strategic focus on nationwide expansion, Modern Wealth expects to pursue additional acquisitions of high-growth firms in early 2025.

Industry veterans Allen Darby and Jacqueline Martinez of Alaris Acquisitions represented Gardey, while Derek Bruton of Gladstone Associates represented LFM.

KEY QUOTES:

“These three acquisitions all represent a unique aspect of Modern Wealth’s growth trajectory. With Fiser Group, we enhance our tax expertise in an industry where top tax talent is waning. Gardey strengthens our presence in Michigan, while LFM establishes our footprint in the fast-growing North Carolina market. Now as a part of the Modern Wealth team, these firms will benefit from our extensive client service and growth resources, collaborate and share ideas with like-minded advisors, and contribute to a fast-growing organization.”

• Jason Gordo, Co-founder and President of Modern Wealth