Advisory M&A News – 12/16/24

Modern Wealth Adds $500M in AUM With 3 Acquisitions

Modern Wealth Management LLC, a registered investment advisory firm, announced the acquisition of the Lenexa, Kansas-based Fiser Group P.A. 

Additionally, Modern Wealth revealed plans to finalize the acquisitions of Saginaw, Michigan-based Gardey Financial Advisors Inc. and Chapel Hill, North Carolina-based LFM Wealth Management by year-end.

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

“These three acquisitions all represent a unique aspect of Modern Wealth’s growth trajectory,” Jason Gordo, Modern Wealth’s co-founder and president, said in a statement. “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.”

Merit Financial Advisors Merges With Trinity Financial Partners

Merit Financial Advisors, a Georgia-based financial advisory firm that specializes in financial planning and wealth management solutions for high-net-worth individuals, announced that Trinity Financial Partners merged with Merit.

The merger marks Merit’s third office in Pennsylvania and increases the firm’s assets by $603 million. Trinity, a female-owned firm based in Berwyn, Pennsylvania, offers investment management, retirement planning, legacy planning, risk protection and charitable giving strategies.

Trinity has formed a long-term strategic partnership with SEI Investments Co., utilizing its capabilities and services across asset management, technology and operations. Robyn Jameson will assume the role of managing director, partner and wealth manager at Merit. She will be joined by her client support and operations team.

“We are thrilled to join Merit, as this partnership will provide us with enhanced resources and support for the next phase of our growth,” said Jameson in a statement.

Cetera Welcomes $231M AUA Team to Summit Financial Networks

Cetera Financial Group and the financial adviser Wealth Hub Solutions Inc. announced that three financial professionals doing business as allwealth Planning have joined Summit Financial Networks, a community within Cetera Advisor Networks LLC.

Led by Co-Founders Eric Bottolfsen, Howard Gershkowitz and Robert Gershkowitz, the team has $231 million in assets under administration as of December 3.

The allwealth Planning trio offers wealth planning to individuals, business owners, retirees and people going through life changes. The team is based in Scottsdale, Arizona, and was previously affiliated with MML Investors Services.

“This important affiliation with Summit and Cetera positions us to better serve our clients with leading industry economic research, advanced planning support, and relationships with expert retirement plan specialists,” the allwealth Planning team said in a joint statement. “We look forward to working closely with Summit’s veteran executive team and collaborating in running our business and serving our clients.”