Modern Wealth marks first anniversary with twin acquisitions
Modern Wealth is celebrating its first anniversary with an additional $570 million in assets as it scoops up two firms in the east.
The national RIA and strategic aggregator announced that it has snapped up two firms in the eastern US, Wealth Management Solutions and Autumn Wind Asset Management, pushing the firm past the $3.7 billion AUM mark.
“Our collective growth and success over the past year has depended upon a careful evaluation of each new member to ensure they are the right fit and share our values as a firm,” Jason Gordo, co-founder and president of Modern Wealth, said in a statement.
The Philadelphia-based Wealth Management Solutions, founded by Tanu Happonen in 2015, caters to over 350 clients, including individuals, families, and small businesses. With services across tax and estate planning, as well as investment managements with private market investment offerings, the firm brings over $400 million in assets under management to Modern Wealth.
“Modern Wealth emerged as a company with an entrepreneurial spirit and a shared dedication to client service,” said Happonen.
Meanwhile, Autumn Wind Asset Management, based in Reston, Virginia, manages over $170 million in assets. Founded in 2000 by Neal Falkenberry, the wealth and multi-family office firm specializes in wealth preservation for large families with multigenerational assets.
“As the wealth management industry grows increasingly complex, joining Modern Wealth marks our next step in evolving beyond just an investment advisory firm,” Falkenberry said. “We’re looking forward to further enhancing our financial planning services.”
Both Happonen and Falkenberry are stepping in as managing directors at Modern Wealth.
Modern Wealth’s acquisitions in the East are
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