Modern Wealth Management has hit several significant milestones at once with its latest deal in Tennessee.
Modern Wealth announced that it has acquired C&J Wealth Advisors, a Knoxville-based wealth management firm, marking the RIA firm’s ninth acquisition in 14 months and pushing its AUM beyond $4 billion.
The acquisition represents Modern Wealth's initial foray into the Southern market, following recent expansions in the Eastern region.
Founded in 1982, C&J Wealth Advisors is an independent, fee-based firm specializing in tax-focused savings, investment management, and retirement income planning. The firm manages over $260 million in assets and serves more than 300 clients in the Knoxville and Oak Ridge areas.
Following the acquisition, C&J Wealth Advisors will fully integrate into the Modern Wealth brand, with its entire team of financial professionals joining the firm.
“Joining Modern Wealth and gaining access to its client service platform enables us to enhance our financial planning offerings while delegating business operations, thus allowing us to serve more families,” Mark King, who joins Modern Wealth as a managing director, said in a statement.
“By leveraging Modern Wealth’s extensive team of financial experts and its versatile investment platform, we hope to significantly enhance our clients’ financial well-being,” said King, a 20-year veteran of the industry.
As part of Modern Wealth, C&J Wealth Advisors will benefit from enhanced support in accounting, compliance, technology, and human resources, as well as its comprehensive investment resources. The firm will also utilize Modern Wealth’s “Organic Growth Hub,” designed to generate leads and expand opportunities for advisors through innovative strategies.
Stephen Tuckwood, director of investments at Modern Wealth, will work alongside Scott Smith, who joins the investment management team to oversee the design and management of investment strategies.
“This acquisition marks a significant milestone in our national expansion, enabling us to seize opportunities in the rapidly growing Knoxville market,” said Jason Gordo, co-founder and president of Modern Wealth. “Aligned with our commitment to delivering comprehensive financial advice, the C&J Wealth Advisors team brings a highly capable group of advisors to help execute our mission.”
As part of its strategic growth plan, Modern Wealth has appointed Jacqueline Ferdowsi as vice president of partnership development. Ferdowsi will spearhead the firm’s acquisition, partnership, and corporate development strategy, with further acquisitions planned throughout the year.
In April, the national wealth firm welcomed Jason Del Col, a former leader of Goldman Sachs and 20-year veteran of the industry, to drive its growth initiatives as head of advisory.
Modern Wealth’s deal for C&J Wealth comes after the RIA aggregator celebrated its first year of strategic growth in May with two acquisitions worth a cumulative $570 million in AUM.
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