Crestview Partners, a private equity firm focused on investing in financial services businesses, has made an investment to support the launch of Modern Wealth Management, a national registered investment advisory (RIA) firm led by co-CEOs Gary Roth and Mike Capelle, as well as president Jason Gordo.
Modern Wealth aims to acquire select RIAs in locations across the U.S., working to create an enterprise that drives the success of financial advisors with client service resources, planning experts and technology. The firm’s client experience will be guided by a team such as CFPs, tax planners, risk managers, CFAs, estate planners and others to support advisors in the provision of client service.
“This leadership team has executed over 90 acquisitions of RIAs, building United Capital to $25 billion of AUM with over 220 financial advisors and 22,000 clients in over 70 offices when it was sold to Goldman Sachs,” says Dan Kilpatrick, partner and head of financial services at Crestview. “We believe the secular tailwinds for RIAs remain robust, as individuals increasingly seek client-first financial advice.”
Ardea Partners LP served as financial advisor to Modern Wealth.