MONTEREY, Calif.--(BUSINESS WIRE)--Modern Wealth Management (“Modern Wealth”), a national registered investment advisory (RIA) firm founded to meet the evolving needs of today’s financial professionals and their clients, today announced it has acquired the assets of Barber Financial Group, Osiwala Financial Group, and Financial Security (collectively “Barber Financial”), with offices across Kansas, Missouri and Michigan. This acquisition is Modern Wealth's first transaction after its recent founding, which was backed by $200 million in equity financing from Crestview Partners.
Barber Financial Group was established in 1996 by chief executive officer Dean Barber. The firm has since evolved into a team of 50 employees including CFP® professionals, CPAs, estate & insurance specialists, all of whom will join Modern Wealth as a result of the acquisition. Barber Financial serves more than 2,300 clients with more than $1.5 billion of collective assets under management.
“We’re thrilled to join forces with Jason Gordo, Mike Capelle and Gary Roth, and I am excited by the possibilities that lie ahead for Modern Wealth,” said Barber. “We look forward to augmenting our approach to provide our clients the best possible service while meeting the needs of growth-minded advisors.”
Modern Wealth's goal is to provide comprehensive financial advice through a collaborative approach, offering a team of specialists to support advisors and provide holistic client service. The firm focuses on helping advisors prospect more effectively, having significant experience developing lead-generation partnerships.
“Dean, Ken, Bud and the team at Barber Financial share our vision and passion for a better wealth management delivery model that enriches the financial lives of the families we serve,” added Jason Gordo, president of Modern Wealth. “Mike, Gary and I are very happy to launch the business with Barber Financial Group as our first acquisition. We will continue to leverage our capital resources in order to build Modern Wealth into a national firm that fulfills investors’ needs while continuously prioritizing the client experience.”
As part of the acquisition, Barber Financial's existing radio show and podcast will provide Modern Wealth with an opportunity to showcase its expertise in wealth management to a loyal audience and prospective clients. The firm aims to create informative and engaging content that attracts potential clients seeking financial guidance.
Barber Financial, Osiwala Financial Group and Financial Security will now be fully integrated into the Modern Wealth brand. Meanwhile, Modern Wealth is in continued discussions with RIAs interested in joining as anchor offices to build out its national footprint.
“As stewards to our clients' financial lives, this transition signals our commitment to providing them with personalized and effective solutions designed to meet their expectations and exceed their goals,” added Ken Osiwala, AIF, president and CEO of Osiwala Financial Group. “Modern Wealth’s future will focus on innovation to foster the best possible outcomes for our clients.”
“I’ve worked in the industry for four decades and was particularly compelled by Modern Wealth’s approach of combining financial planning, investment management and tax preparation,” added Bud Kasper, CFP®, AIF, president of Financial Security. “I believe this holistic approach is key to helping clients achieve optimal outcomes and to building a national firm.”
Alaris Acquisitions advised both Modern Wealth and Barber Financial on the transaction. Terms of the deal are not disclosed. For more information about Modern Wealth and its approach, please visit modwm.com.
About Modern Wealth Management
Modern Wealth Management is a national registered investment advisory (RIA) firm reimagining the delivery of financial advice. Co-Founded by former United Capital executives Gary Roth, Mike Capelle and Jason Gordo, Modern Wealth was designed to anticipate the needs of Americans at every stage in life by providing a full suite of wealth management services carried out by a team of experts specializing in financial planning, tax planning and preparation, personal banking, estate planning and more. Strategically acquiring high-growth RIAs across the country, Modern Wealth plans to establish regional offices in key locations spanning the United States. To learn more about Modern Wealth’s next-generation platform and advice delivery model, please email info@modwm.com or visit modwm.com.
Registration with the U.S. Securities and Exchange Commission does not imply a certain level of skill or training. Past performance is not necessarily indicative of future results.
