MONTEREY, Calif.--(BUSINESS WIRE)--Modern Wealth Management (“Modern Wealth”), a registered investment advisory (RIA) firm founded to meet the evolving needs of today’s financial professionals and their clients, today announced the strategic acquisition of Rochester, New York-based Beltz Ianni & Associates (“Beltz Ianni”), a corporate retirement planning and individual wealth management firm with more than $1.2 billion in assets. As part of this transaction, Beltz Ianni has dropped its broker-dealer affiliation with LPL Financial and is now a part of Modern Wealth's independent RIA.
Following the close of the acquisition on March 1st, Beltz Ianni adopted the Modern Wealth brand. It also immediately set about integrating its robust retirement and individual wealth planning service offerings into Modern Wealth’s platform. The full Beltz Ianni team has transitioned to Modern Wealth, while continuing to serve its client base of small-to-midsize businesses, individuals and families in Western New York.
“Joining Modern Wealth will enable our team to leverage its breadth of resources to broaden and scale our retirement plan advisory services,” said Michelle Cannan, CPFA™, QKA®, QKC, who joins Modern Wealth as managing director and head of company retirement plan services. “Gary, Jason and Mike, along with the rest of the Modern Wealth leadership team, have built a great business in a short period of time. We’re looking forward to providing our clients with an elevated level of service at our new home.”
Beltz Ianni was established in 2001 as a comprehensive financial services firm focused on retirement planning and investment management. Currently, the firm manages over $700 million in retirement plan assets for over 100 companies. Additionally, the firm has nearly $500 million in assets through its individual investor business lines.
Beltz Ianni’s Total Retirement Plan ManagementSM solution provides comprehensive retirement plan management tailored for small-to-midsize companies. Beltz Ianni’s broader services include fiduciary risk management, fee benchmarking, retirement vendor selection, employee education resources and other retirement plan services. Companies utilizing the retirement plan advisory services may also receive third-party administration support, which provides employers with end-to-end retirement plan administration while maintaining compliance with complex retirement regulations.
“The acquisition of Beltz Ianni not only enables our firm to serve the retirement plan management and administration needs of our business owner clients, but we’ve also added several new personal wealth management team members who will complement our growing and dynamic team,” said Jason Gordo, co-founder and president of Modern Wealth. “Having expanded our business to the East Coast, we expect to build and maintain our presence in the region for years to come.”
In addition to launching corporate retirement planning services, Modern Wealth will broaden its wealth management offerings to include Beltz Ianni’s individual retirement planning services, investment management capabilities and full suite of insurance services. As a part of Modern Wealth, the Beltz Ianni team, with nearly $500 million of client assets in its brokerage and fee-based individual wealth management business, can leverage investment management and back-office support. At the same time, they can tap into the collective knowledge and insights of the firm’s team of specialists spanning CFP®s, tax planners, CPAs, CFA®s and other specialized planners.
“What initially drew Beltz Ianni to Modern Wealth was our shared vision of providing excellent client service by adopting a ‘client-first’ mentality,” said Kyle Dunn, CLU, ChFC, who joins Modern Wealth as managing director and executive financial advisor. “We're thrilled to join a firm dedicated to empowering advisors to serve clients in a fiduciary capacity and build customized plans to meet their unique financial needs.”
This marks Modern Wealth's sixth transaction less than a year since its launch, propelling its assets under management to more than $3 billion pending the successful completion of the asset transition. Executing on its national expansion strategy, Modern Wealth expects to make additional acquisition announcements in the coming months.
Gladstone Associates, LLC advised Beltz Ianni on the transaction. To learn more about Modern Wealth’s retirement planning and holistic wealth management services, please visit modwm.com.
About Modern Wealth Management
Modern Wealth Management is a registered investment adviser (RIA) 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.
