Modern Wealth Management has acquired a New York-based advisory firm, managing about $300 million in assets under management. 

The Rochester-based practice, which is led by Craig Houck, deepens Modern Wealth’s presence in the East Coast market, as the RIA seeks to boost its financial planning and retirement plan advisory capabilities across the region. 

Following the acquisition, the four-person advisory team will join Modern Wealth’s existing office in Rochester, with Houck assuming the role of managing director. 

The firm joined Modern Wealth to leverage the RIA’s “robust, fully integrated” wealth management platform, Modern Wealth said. 

“In particular, [Modern Wealth’s] deep tax planning expertise allows us to better serve clients navigating increasingly complex financial decisions, especially as they move through retirement,” Houck said. “Joining Modern Wealth enables us to expand our service model, collaborate with tax and planning specialists, and deliver greater value to clients with more speed and scale.” 

Prior to joining Modern Wealth, Houck was a financial advisor for Fairpoint, NY-based Manning & Napier, an asset management firm, which was affiliated with Osaic Wealth, according to his BrokerCheck and LinkedIn profiles. 

The practice is the latest addition to leverage the firm’s “Organic Growth Hub,” which provides support to advisors to help them with distribution and client onboarding. 

In September, Modern Wealth added Mesa, AZ-based Public Safety Financial/Galloway, which oversees about $1.1 billion in assets under management. 

Modern Wealth, which launched in April 2023, is backed by $200 million in equity financing from Crestview Partners and has over $10 billion in assets, the firm said.

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Pictured: Craig Houck