MONTEREY, Calif.–(BUSINESS WIRE)—Modern Wealth Management (“Modern Wealth”), a registered investment advisory (RIA) firm founded to meet the evolving needs of today’s financial professionals and their clients, today announced the acquisition of Boise, Idaho-based Petso Financial Consultants, LLC (“Petso Financial”), a fee-only financial advisory firm with approximately $1.4 billion in assets under management (AUM). This transaction is Modern Wealth’s eleventh acquisition to date and its sixth of the year, bringing its total AUM to over $6 billion.
Founded in 2001 by David Petso, CFP®, Petso Financial is an independent advisory firm that provides holistic wealth management and financial planning services. Multiple advisors at the firm are CFP® Professionals, reflecting its commitment to client-focused service and personalized financial guidance. Petso Financial’s client experience includes investment management, financial planning, estate planning and retirement income planning for both individuals and corporate clients.
“Joining Modern Wealth presented a unique opportunity that aligned well with Petso’s rapid client growth. It wasn’t about stepping into a plug-and-play firm; it was about joining a dynamic, fast-growing team where we could be an integral part of the journey,” said Petso, who joins Modern Wealth as managing director. “With Modern Wealth’s experienced leadership team, extensive business support infrastructure and commitment to a team-based advisor model, we are well-positioned to drive future growth and further enhance our client experiences.”
Petso Financial’s entire 10-person team is eager to continue expanding its client base by leveraging Modern Wealth’s ‘Organic Growth Hub’, a platform focused on lead generation, distribution and client onboarding for advisors. Additionally, Modern Wealth’s accounting, compliance, technology, human resources and operations teams allow advisors to prioritize client service while offloading day-to-day business management activities.
“Expanding into the Pacific Northwest region represents a key step in our broader national strategy. By acquiring high-growth firms that share our commitment to delivering comprehensive financial advice, we continue strengthening our team’s ability to serve clients across the country,” said Jason Gordo, co-founder and president of Modern Wealth. “David, Jennifer [Stone] and the full team at Petso Financial have built an incredible business in Boise, with an exemplary approach to client service, culture and growth that is closely aligned with Modern Wealth.”
Following its recent acquisition of Knoxville, Tennessee-based C&J Wealth Advisors via an asset purchase, Modern Wealth now operates 14 client-facing offices across 11 states, with a presence in the Eastern, Midwest, Southern and Pacific Northwest regions. Committed to expanding its network of high-growth RIAs nationwide, Modern Wealth expects to pursue additional acquisitions through year-end.
This asset purchase transaction was guided by the Alaris Acquisitions Deal Advocacy process. “We engaged in extensive discussions with the Petso and Modern Wealth teams, and it was clear that the alignment between the two firms was remarkable,” said Allen Darby, chief executive of Alaris Acquisitions. “Our approach goes beyond initial valuation. By aligning Petso and Modern Wealth across multiple data points, we could see that the cultural fit was a home run. We expect great things from this union.”
For more information about Modern Wealth and for advisors looking to join the quickly-growing Boise, Idaho office, please visit modwm.com.
About Modern Wealth Management
Modern Wealth Management is a registered investment adviser (RIA) reimagining the delivery of financial advice. Co-Founded by former United Capital executives Gary Roth, Mike Capelle and Jason Gordo, Modern Wealth was designed to anticipate the needs of Americans at every stage in life by providing a full suite of wealth management services carried out by a team of experts specializing in financial planning, tax planning and preparation, estate planning and more. Strategically acquiring high-growth RIAs across the country, Modern Wealth plans to establish regional offices in key locations spanning the United States. To learn more about Modern Wealth’s next generation platform and advice delivery model, please email info@modwm.com or visit modwm.com.
