Modern Wealth Acquires $1.1 B Flaharty Asset Management, Expands Florida Presence
Modern Wealth Management has agreed to acquire Flaharty Asset Management, a Clearwater, Florida-based wealth management firm overseeing approximately $1.1 billion in advisory and brokerage assets, further expanding the firm’s presence in one of its key growth markets.
The transaction brings an 18-person team, including nine advisors, to Modern Wealth. Led by Shon Flaharty and Hunter Orr, the firm serves clients from offices in Clearwater and Punta Gorda and has built its practice around comprehensive financial planning and personalized client service.
The acquisition marks Modern Wealth’s second major Florida transaction this year and follows its April purchase of Legacy Wealth Management in South Florida. Together, the deals establish a broader presence across the state and deepen the firm’s footprint throughout the Southeast.
“As our business has grown, we knew the next chapter required a partner that could help us preserve that culture while continuing to evolve,” Flaharty said. “Modern Wealth understands what makes our firm different and shares our belief that great advice is about much more than investment management alone.”
For Modern Wealth, the deal adds scale in the Greater Tampa Bay and Clearwater markets while bringing on a team known for its high-touch approach to wealth management.
“Florida is an important growth market for Modern Wealth, but this acquisition is about much more than geography,” said Jason Gordo, president and co-founder of Modern Wealth. “Shon, Hunter and their team have built a remarkable business around care, trust and a highly human approach to advice.”
Following the acquisition, the Flaharty team will gain access to Modern Wealth’s integrated platform, including centralized support for marketing, technology, compliance, human resources and operations. Advisors will also have access to in-house capabilities spanning financial planning, investment management, tax planning, estate planning and retirement plan services.
The transaction marks Modern Wealth’s 22nd acquisition since launching in April 2023 and follows the recent addition of Brown and Company in Colorado. Backed by $200 million in equity financing from Crestview Partners, the firm now oversees more than $12 billion in assets.
Pictured: The Flaharty team