Modern Wealth Management Acquires $330M Practice in California

Modern Wealth Management has purchased another California-based wealth management firm, which oversees $330 million in assets under management.    

Lodi, CA-based 4thGEN Wealth Management, founded in 2015, provides investment management, retirement planning, and succession planning to high-net-worth clients, including business owners, pre-retirees, investors, and members of the agricultural sector. 

The team is led by advisors Kenneth Levy, Corey Daniel, and Dudley McGee. 4thGEN is supported by Senior Client Associate DeAnn Murray and Business Development Specialist Chris Taylor. 

As part of the transaction, 4thGEN will gain access to Modern Wealth’s resources, including additional tax capabilities, retirement plan and portfolio management resources. 

“Over the course of my career, our business has always been about relationships – with families, business owners and people in this community who have trusted us through major transitions in their lives,” said Levy. 

The firm ultimately joined Modern Wealth because of its focus on succession planning and its position to support the team’s decision to maintain its local presence, existing client relationships, and service model. 

“As we thought about succession, we weren’t looking for a way to step away. We wanted to find a partner that would allow us to keep doing what we do well while creating a stronger long-term foundation for our clients and our team,” Levy stated. 

4thGEN marks Modern Wealth’s seventh acquisition this year, following its acquisition of Auburn, CA-based AWA Wealth Management, which oversees $290 million in assets to the RIA. 

Lenexa, KS-based Modern Wealth Management manages over $16 billion in total client assets. The firm is backed by $200 million in equity financing from Crestview Partners. 

Pictured: 4thGEN Wealth Management