Legacy Wealth Management brings $1.2B in client assets and seven advisors, fueling Modern Wealth’s national expansion

Modern Wealth Management (“Modern Wealth”), a registered investment advisory (RIA) firm founded to meet the evolving needs of today’s financial professionals and its clients, today announced an asset purchase agreement of Legacy Wealth Management (“Legacy”), a South Florida-based advisory firm managing approximately $1.2 billion in client assets. As part of this transaction, Legacy has transitioned from its broker-dealer affiliation with LPL Financial and is now a part of Modern Wealth's independent RIA.

Led by Tony DuBose and Joel Palatnik, who join Modern Wealth as managing directors, Legacy marks the firm’s first office in Florida and its 20th acquisition since Modern Wealth’s launch in April 2023. The eight-person team, including seven financial advisors, will leverage Modern Wealth’s fully integrated platform to deliver comprehensive services, including financial planning, retirement plan advisory, investment management, estate planning, and more. Adopting the Modern Wealth brand, the Legacy team will continue serving its client base of more than 1,400 families, composed of business owners, pilots, professional guardians, trustees and other mass affluent through ultra-high-net-worth clients.

“If you had asked me three years ago about merging or selling the firm, it would have been a hard no,” said DuBose. “But that all changed when we met the leadership team at Modern Wealth. From the start, they treated this not as a transaction, but as the next phase of growth for our firm, our clients, and our team. Their high level of execution, shared values and commitment to a long-term vision made them the perfect fit—especially as they expand their footprint here in Florida.”

Modern Wealth enables Legacy's advisors to spend more time with clients while offloading investment management and operational responsibilities, including payroll, HR, compliance and chief investment officer (CIO) functions. In addition, Legacy’s retirement plan advisory business, Legacy Retirement Plan Advisors—which manages approximately $300 million in retirement plan assets and is led by Val Ortega—will integrate into Modern Wealth’s retirement plan consulting team, led by Michelle Cannan.

“Joining Modern Wealth gives us the ability to scale without losing the culture that defines our firm, and to pursue growth without compromising the client relationships we’ve built over decades,” said Palatnik. “With the right infrastructure in place, we see a meaningful opportunity to expand both our wealth and retirement businesses while continuing to deliver the personalized advice our clients expect.”

By leveraging Modern Wealth’s Organic Growth Hub, the Legacy team will be supported by vast resources and proven strategies for lead generation, client onboarding and distribution, alongside centralized support across technology, marketing, compliance, human resources and operations. Advisors will also gain access to key internal initiatives, including Modern Women, which is focused on advancing mentorship, leadership and connectivity across the firm, as well as other next-gen programs designed to support long-term career development.

“Tony and Joel’s team exemplifies the type of entrepreneurial, client-focused advisors we are proud to welcome to our firm,” said Jason Gordo, President & Co-Founder of Modern Wealth. “Their experience, client relationships and expertise in retirement plans strengthen our platform and support our expansion in the Southeast as we continue to build a national presence.”

Supported by investments from Crestview Partners (“Crestview”), Modern Wealth has, in just under three years, grown to manage more than $12 billion in assets across 19 offices nationwide. Crestview’s partnership has helped Modern Wealth to pursue its growth plan, expand into new markets and empower employee-owners, while allowing the firm's management team to maintain control and focus on delivering a client-first experience.

Dan Kilpatrick, Partner and Head of Financial Services at Crestview, said, “When we partnered with the Modern Wealth team in 2023, we were confident that they had a vision to build a differentiated firm in the rapidly changing RIA industry. We are thrilled with how the business has grown over the last three years. To date, the team has executed that vision through 20 acquisitions with acumen and discipline, building a national platform that empowers advisors and seeks to deliver value to its clients. I believe the acquisition of Legacy and expansion into the Florida market represent important milestones in the growth and expansion of the business.”

Gladstone Associates, LLC served as the exclusive financial advisor to Legacy on this transaction.

For more information about Modern Wealth and its comprehensive 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, 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.

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