RIA firm Modern Wealth Management today announced its strategic acquisition of Rochester, N.Y.-based Beltz Ianni & Associates, a corporate retirement planning and individual wealth management firm with more than $1.2 billion in assets.
As part of this transaction, Beltz Ianni has dropped its broker-dealer affiliation with LPL Financial and is now a part of Modern Wealth’s independent RIA.
“Having expanded our business to the East Coast, we expect to build and maintain our presence in the region for years to come.”
Modern Wealth’s Jason Gordo
Following the close of the acquisition March 1, Beltz Ianni adopted the Modern Wealth brand. It also immediately set about integrating its retirement and individual wealth planning service offerings into Modern Wealth’s platform. The full Beltz Ianni team has transitioned to Modern Wealth, while continuing to serve its client base of small-to-midsize businesses, individuals and families in Western New York.
Monterey, Calif.-based Modern Wealth Management was co-founded by former United Capital executives Gary Roth, Mike Capelle and Jason Gordo, and is strategically acquiring high-growth RIAs across the country with plans to establish regional offices in key locations spanning the U.S. This marks Modern Wealth’s sixth transaction less than a year since its launch, propelling its assets under management to more than $3 billion pending the successful completion of the asset transition. Executing on its national expansion strategy, Modern Wealth expects to make additional acquisition announcements in the coming months.
“Joining Modern Wealth will enable our team to leverage its breadth of resources to broaden and scale our retirement plan advisory services,” said Michelle Cannan, who joins Modern Wealth as managing director and head of company retirement plan services. “Gary, Jason and Mike, along with the rest of the Modern Wealth leadership team, have built a great business in a short period of time. We’re looking forward to providing our clients with an elevated level of service at our new home.”
Beltz Ianni was established in 2001 as a comprehensive financial services firm focused on retirement planning and investment management. Currently, the firm manages over $700 million in retirement plan assets for over 100 companies. Additionally, the firm has nearly $500 million in assets through its individual investor business lines.
Beltz Ianni’s Total Retirement Plan Management solution provides comprehensive retirement plan management tailored for small-to-midsize companies. Beltz Ianni’s broader services include fiduciary risk management, fee benchmarking, retirement vendor selection, employee education resources and other retirement plan services. Companies utilizing the retirement plan advisory services may also receive third-party administration support, which provides employers with end-to-end retirement plan administration while maintaining compliance with complex retirement regulations.
“The acquisition of Beltz Ianni not only enables our firm to serve the retirement plan management and administration needs of our business owner clients, but we’ve also added several new personal wealth management team members who will complement our growing and dynamic team,” said Jason Gordo, co-founder and president of Modern Wealth. “Having expanded our business to the East Coast, we expect to build and maintain our presence in the region for years to come.”
“We’re thrilled to join a firm dedicated to empowering advisors to serve clients in a fiduciary capacity and build customized plans to meet their unique financial needs.”
Kyle Dunn
In addition to launching corporate retirement planning services, Modern Wealth will broaden its wealth management offerings to include Beltz Ianni’s individual retirement planning services, investment management capabilities and full suite of insurance services. As a part of Modern Wealth, the Beltz Ianni team, with nearly $500 million of client assets in its brokerage and fee-based individual wealth management business, can leverage investment management and back-office support. At the same time, they can tap into the collective knowledge and insights of the firm’s team of specialists spanning CFPs, tax planners, CPAs, CFAs and other specialized planners.
“What initially drew Beltz Ianni to Modern Wealth was our shared vision of providing excellent client service by adopting a ‘client-first’ mentality,” said Kyle Dunn, who joins Modern Wealth as managing director and executive financial advisor. “We’re thrilled to join a firm dedicated to empowering advisors to serve clients in a fiduciary capacity and build customized plans to meet their unique financial needs.”
Gladstone Associates, LLC advised Beltz Ianni on the transaction. To learn more about Modern Wealth’s retirement planning and holistic wealth management services, please visit modwm.com.
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