Modern Wealth Gets $200M Investment From Centerbridge
Modern Wealth Management, an acquisitive registered investment advisor co-founded by former United Capital executives, has secured a $200 million hybrid debt-and-equity investment from funds managed by Centerbridge Partners, a private equity firm.
Funds managed by Harvest Partners SCF also invested in the deal, which arrives 3 1/2 years after Modern Wealth’s April 2023 founding. Crestview Partners, which provided the firm’s initial $200 million equity financing in 2023, remains its largest institutional shareholder.
Modern Wealth was co-founded by Gary Roth, Mike Capelle and Jason Gordo, with Nick Del Col also among its leaders. The firm has completed 26 acquisitions since launch and grown to $17 billion in total assets.
“This investment gives us the capital to accelerate our growth while continuing to invest in the people and capabilities that make our model successful,” Gordo said in a statement.
The capital will go toward Modern Wealth’s acquisition strategy, the expansion of its presence in key markets, and the strengthening of its integrated wealth management platform, the company said. Modern Wealth has more than 150 employee shareholders, ensuring that the people building the business retain a meaningful stake in its future, Gordo said.
In a related development, David Canter, CEO of Finley Point Strategy and former president of Bluespring Wealth Partners, has joined Modern Wealth’s board of directors and made an equity investment through ATON Associates, a private investment firm founded by Canter and Peter Nesvold, managing partner at Nesvold Capital Partners.
Modern Wealth’s approach combines acquiring and integrating established advisory firms with ongoing investment in specialized services, including financial, tax and estate planning, alongside technology upgrades and centralized advisor support. The goal is to free up affiliated advisors to spend more time on client service and organic growth, while giving clients broader access to coordinated wealth management offerings.
Ardea Partners served as lead financial advisor to Modern Wealth, with Houlihan Lokey and Citizens Bank also providing financial advice.
