Modern Wealth Management acquires California advisory 4thGEN
Modern Wealth Management has acquired 4thGEN Wealth Management, a Lodi, California-based advisory practice managing around $330m in assets.
Financial terms of the deal remain undisclosed.
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The deal adds 4thGEN’s Northern California team to Modern Wealth.
Its client base includes business owners, agricultural community members, high-net-worth families, and investors nearing or in retirement.
Kenneth Levy, Corey Daniel, and Dudley McGee, the practice’s three advisors, will move to Modern Wealth.
Senior client associate DeAnn Murray and business development specialist Chris Taylor will also join the firm.
4thGEN provides investment management, retirement planning, business succession, and planning related to the building, preservation, and transfer of wealth across generations.
Levy, Daniel, and McGee will continue working with their clients upon the acquisition.
The existing support team will remain in place.
Modern Wealth president and co-founderJason Gordo said:“Ken, Corey and Dudley have built a collaborative model centred on long-term relationships and multigenerational planning, and our role is to give them even more resources to serve those families without losing what made the practice successful in the first place. Having started my own career in nearby Modesto, I also know this region well, and I’m excited to expand Modern Wealth’s presence in a market with such a strong base of families and business owners.”
The deal follows Modern Wealth’s September acquisition of Auburn-based AWA Wealth Management, which managed $290m in assets and serves the greater Sacramento area.
Meanwhile, last month, Modern Wealth acquired Sanchez Wealth Management Group, a Jacksonville, Florida-based advisory business that manages close to $710m in client assets.
