RIA Modern Wealth Management Acquires $710M Practice in Florida

Modern Wealth Management has acquired a Florida-based wealth management firm, which oversees $710 million in assets under management.  

Jacksonville, FL-based Sanchez Wealth Management Group, which was founded by Christen “Chris” Sanchez, provides financial planning, investment management, retirement planning, tax, and estate planning.  

The team includes wealth advisors Dawn Nicoles and Josh Mandelkorn, and they are supported by client service associates Alexandria Sanchez and Lindsey Hall, and director of operations Jennifer Koeller. 

Prior to joining Modern Wealth, the firm had been affiliated with LPL Financial for 26 years. 

Through the acquisition, Sanchez Wealth will gain access to a variety of resources, including technology, compliance, human resources, operations, and marketing. 

“For me, this isn’t about stepping away, it’s quite the opposite,” Sanchez said. “I believe this can add years to my career because it gives me more time to do what I actually love: helping clients solve complex problems, coaching them, educating them and being there for their families.” 

Additionally, Sanchez Wealth Management Group marks Modern Wealth’s fifth acquisition this year and the RIA’s third transaction in Florida this year, following its acquisitions of Legacy Wealth Management and Flaharty Asset Management, which collectively bring over $2 billion in assets to Modern Wealth. 

Lenexa, KS-based Modern Wealth Management, which launched in April 2023, is backed by $200 million in equity financing from Crestview Partners and has over $13 billion in assets. 

Pictured: Sanchez Wealth Management Group