Crestview Partners Invests US$ 200 million in Modern Wealth Management
Posted on 04/06/2023
Former Goldman Sachs and United Capital executives Gary Roth, Mike Capelle, and Jason Gordo came together to form Modern Wealth Management. It is a registered investment advisory (RIA) company for financial professionals and their clients. Now they have a US$ 200 million investment from Crestview Partners, a PE firm. Modern Wealth Management plans to acquire RIAs in locations across the United States to build an integrated enterprise “that empowers the success of financial advisors with growth-accelerating client service resources, specialized planning experts and modern technology,” says the company. Modern Wealth Management retains CFPs, tax planners, risk managers, CFAs, estate planners and others, to help advisors build a menu of client services.
Jason Gordo commented: “When I joined . . . it was because I wanted to add my expertise to something larger. Upon meeting Mike, Gary and the rest of the team, I recognized a tremendous opportunity and quickly made the decision to join them in creating what I believe to be something special. Here at Modern Wealth, we’re bringing a fresh partnership approach with an end goal of modernizing the way a wealth management firm serves and cares for clients.”
Crestview Partners is value-oriented PE firm that manages funds with approximately US$ 9 billion in AUM. Targets include investments in a diverse lineup including financial services, media, industrials, and energy.