Modern Wealth Establishes Chicago Footprint with 16th RIA Deal
Modern Wealth Management has marked its second year in business by acquiring the assets of Chicago-based OFM Wealth, its 16th acquisition since launching in April 2023. This deal pushes Modern Wealth’s assets under management (AUM) past $7.5 billion and establishes its first presence in Chicago.
Established in 1981 by Sam Ogrizovich, OFM Wealth is a fee-only, independent wealth management firm providing holistic services such as financial planning, investment management, tax, estate, and retirement planning. Serving over 175 households in Chicago and beyond, OFM Wealth caters to diverse clients, including multigenerational families, business owners, pre-retirees, retirees, and others at various life stages.
“Establishing a presence in Chicago gives us a foothold in all major regions of the country. Bringing OFM Wealth into the Modern Wealth family accelerates our growth and further cements our nationwide presence,” said Jason Gordo, Co-founder and President of Modern Wealth.
Launched by former United Capital executives Gary Roth, Mike Capelle, and Gordo with $200 million in equity funding from Crestview Partners, Modern Wealth aims to acquire high-growth RIAs nationwide and develop a comprehensive, integrated wealth management platform.
Last month, Monterey, CA-based Modern Wealth announced its 14th and 15th deals with the acquisitions of two California firms; $700 million Wade Financial Advisory and $350 million Planned Asset Management.
With this latest transaction, Modern Wealth has now acquired 16 firms, established a presence in 13 states and grown its network to 18 client-facing offices.
Recent other acquisitions include three deals totaling more than $500 million announced in December 2024 and the $1.4 billion Petso Financial Consultants acquisition in Idaho in October 2024.
OFM Wealth was represented by DeVoe & Company, a leading consulting firm and investment bank to RIAs.
Pictured: Jason Gordo