Modern Wealth Management, a three-week-old aggregator of registered investment advisory firms, has made its first deal with the purchase of Barber Financial Group, a group of three Midwest advisory firms that collectively manage $1.5 billion in client assets.

With the acquisition, Modern Wealth said it’s establishing its first “hub” location in Kansas City where the firm has already purchased additional office space and plans to double headcount.

Monterey, CA-based Modern Wealth was launched in early April by co-CEOs Gary Roth and Mike Capelle and President Jason Gordo – all former Goldman Sachs and United Capital executives – and padded with $200 million in private equity backing from Crestview Partners.

Lenexa, KS-based Barber Financial Group was founded in 1996 by CEO Dean Barber and over the past 20 years has allowed Osiwala Financial Group and Financial Security to operate under its RIA. The three advisory firms, which combine for 50 employees and 2,300 clients, will be rebranded as Modern Wealth Management.

“Dean, Ken, Bud and the team at Barber Financial share our vision and passion for a better wealth management delivery model that enriches the financial lives of the families we serve,” said Gordo.

Modern Wealth also expects to benefit from Barber’s radio show and podcast, which aims to attract potential clients, according to the company.

Alaris Acquisitions advised both Modern Wealth and Barber Financial on the transaction. Terms of the deal are not disclosed.