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 Midwest Financial, located in Glidden, Iowa. This marks Modern Wealth's fourth full transaction, following its recent acquisition of Barber Financial Group, Osiwala Financial Group, and Financial Security (collectively “Barber Financial”). This comes after its April launch, bolstered by $200 million in equity financing from Crestview Partners.
Midwest Financial was established in 1983 and is led by Brian D. Johnson, RFC, and Jeremiah Johnson, AIF. This father-son team has expanded Midwest Financial’s service offerings to provide its clients with holistic financial planning solutions, including investment and risk management, social security planning, tax planning and strategies, estate planning and other wealth management services.
“We’re excited to be joining the Modern Wealth ecosystem, drawing from the leadership and insights provided by its executive team,” said Brian Johnson. “We look forward to ushering in greater operational efficiencies at the firm, along with providing our clients an expanded menu of financial planning services. In doing so, we hope to further solidify our position as a trusted partner to our clients, empowering them with tools and solutions that reflect their unique financial needs.”
Midwest Financial will now benefit from Modern Wealth's robust team of professionals, encompassing its centralized financial planning unit and a network of CPAs and accountants, aiding in client tax planning and preparation. Additionally, the Glidden-based team will work closely alongside Modern Wealth’s Lenexa, Kansas office, leveraging the expertise of its planning, tax, investment management, estate planning and insurance professionals.
“We’re eager to offer our clients an improved selection of financial planning and asset management solutions as we join Modern Wealth,” added Jeremiah Johnson. “With access to a broader team of financial professionals, we're now better positioned to devise and execute wealth management strategies tailored to our clients' needs and goals.”
“In evaluating Midwest Financial, it became clear that the firm’s commitment to holistic wealth management and exceptional client service align well with the Modern Wealth ethos,” added Jason Gordo, president of Modern Wealth. “Integrating Midwest Financial into our modernized platform is another key milestone in our quest to equip RIAs nationwide with top-tier wealth management resources.”
As part of the acquisition, Modern Wealth will onboard the full Midwest Financial team and immediately begin integrating its platform of services. In a bid to enhance client service and efficiency, Modern Wealth will offer additional support in areas like compliance, finance, human resources, investment management, marketing, and more. Midwest Financial will seamlessly blend into the Modern Wealth brand, with Brian and Jeremiah Johnson taking on the role of managing directors, while still operating at their local firm. Concurrently, Modern Wealth's national expansion strategy is in motion, evidenced by the recent introduction of its Partnership Development team, with more acquisitions anticipated by year-end.
Alaris Acquisitions advised both Modern Wealth and Midwest Financial on the transaction. Terms of the deal are not disclosed. Interested parties can learn more about open roles at Modern Wealth, which come with a robust benefits package, at 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.
