Modern Wealth acquires 4thGEN Wealth Management, a $330M Lodi RIA

Modern Wealth Management has acquired 4thGEN Wealth Management, a Lodi, Calif., advisory practice with about $330 million in assets under management, according to a firm release reported by Financial Advisor Magazine. It is Modern Wealth's seventh acquisition this year and its 25th since the Monterey, Calif., buyer was founded in 2023.

Three 4thGEN advisors, Kenneth F. Levy, Corey N. Daniel and Dudley McGee, joined Modern Wealth, along with senior client associate DeAnn Murray and business development specialist Chris Taylor, the release said. The advisors will keep working with their clients, and the existing support team remains in place.

Succession planning was a central consideration in 4thGEN's choice of partner, according to the release. "As we thought about succession, we weren't looking for a way to step away," Levy said in a statement, describing the search as one for a partner that would let the team keep doing what it does well while giving clients and staff a stronger long-term foundation. The $330 million practice sits at the sub-$500 million end of the market this publication described after Modern Wealth's 24th deal in September as "a succession purchase priced in people."

President and co-founder Jason Gordo, who said he began his career in nearby Modesto, framed the deal as an expansion into a region with a strong base of families and business owners. Modern Wealth's previous Northern California purchase came late last month: AWA Wealth Management, an Auburn, Calif., practice with $290 million serving the greater Sacramento area. Together the two account for roughly $620 million of regional assets.