At a glance
- InvestmentNews reported the raise on Nov. 10, 2026.
- Funds managed by Harvest Partners SCF also participated, and Crestview Partners, which supplied Modern Wealth's initial $200 million in equity in 2023, remains the firm's largest institutional investor.
- For an owner weighing a sale, the terms that matter are capacity and equity: $200 million earmarked for more acquisitions, and a buyer that stays majority employee-owned.
Modern Wealth Management raised $200 million in hybrid debt and equity from funds managed by Centerbridge Partners, money the Monterey, California RIA aggregator will put toward more acquisitions, expansion in key markets, planning, tax and estate capabilities, technology and centralized advisor support. InvestmentNews reported the raise on Nov. 10, 2026.
Funds managed by Harvest Partners SCF also participated, and Crestview Partners, which supplied Modern Wealth's initial $200 million in equity in 2023, remains the firm's largest institutional investor. The new financing matches the size of that first Crestview check. Modern Wealth was founded in April 2023 by Goldman Sachs and United Capital veterans Gary Roth, Mike Capelle and Jason Gordo, who lead it with Jason Del Col, another alum of both firms who joined in 2024. It has completed 26 acquisitions and manages almost $17 billion.
For an owner weighing a sale, the terms that matter are capacity and equity: $200 million earmarked for more acquisitions, and a buyer that stays majority employee-owned. More than 150 Modern Wealth employees hold shares, according to InvestmentNews. Gordo, the president and co-founder, said staying majority employee-owned "ensures the people building this business continue to have a meaningful stake in its future."
Deal Tracker counts one Modern Wealth transaction in the past 12 months: a purchase that closed Sept. 25, 2026 and added $290 million in assets, with no Modern Wealth deal recorded as a target. One $290 million purchase in a year, set against 26 acquisitions since inception, suggests fewer and larger targets from here — an inference the coming quarters will test.
David Canter, chief executive of Finley Point Strategy, joined Modern Wealth's board and made what the firm described as a significant equity investment through ATON Associates, which takes minority stakes in wealth firms.
Canter has spent most of his career in the independent channel. He was in Charles Schwab's RIA business for eight years starting in 2000, then spent nearly 13 years at Fidelity Investments, leading its RIA business from 2017 until he left in mid-2022. He became president of Bluespring Wealth Partners, Kestra Holdings' RIA consolidator, later that year and left the role in 2023; CAIS named him a strategic advisor in early 2024.
Reported by the M&A desk from InvestmentNews and Deal Tracker. Published . Corrections