Modern Wealth Acquires $1B Denver RIA in 21st Deal, Pushing AUM Past $13B

Modern Wealth Management acquired Denver-based Brown and Company, a registered investment adviser overseeing approximately $1 billion in assets under management, in the firm’s 21st acquisition to date.

The deal pushes Modern Wealth’s total assets under management past $13 billion and extends the Monterey, Calif.-based RIA platform’s presence into Colorado. Brown and Company was previously affiliated with LPL Financial.

“Mark and his team have built an impressive business defined by strong leadership, consistent growth and a foundation already in place to scale client service,” said Jason Gordo, president and co-founder of Modern Wealth. “This marks an important step in our expansion into Colorado.”

Founded in 1988 by Mark Brown, Brown and Company offers a “family office-style” service model and currently serves more than 200 households, focusing on business owners, entrepreneurs and corporate executives. The firm provides tax, estate and philanthropic planning services, along with support for executive compensation and business exit planning.

The full eight-person team at Brown and Company — including Danielle Berz, Justin Cassida and Jonathan Kuiter — will join Modern Wealth. The team will gain access to Modern Wealth’s centralized infrastructure, including resources across marketing, technology, compliance and human resources, as well as a proprietary system the firm said helps advisers develop new business leads.

Mark Brown joins Modern Wealth as a managing director. Brown said the partnership was driven by the need for a sustainable succession plan that preserved his firm’s culture.

“Joining them allows us to maintain the consistency and care our clients expect, while enhancing the personalized, high-touch experience that has defined our practice,” said Brown.

The deal is Modern Wealth’s second acquisition in the past month and its second of the year. The firm was co-founded by former United Capital executives Jason Gordo, Gary Roth and Mike Capelle.

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