Modern Wealth Management has acquired Wade Financial Advisory and Planned Asset Management to enhance its growth strategy, increasing its assets under management to over $7 billion.

Information on the Target

Modern Wealth Management has recently expanded its operations through strategic acquisitions, including the purchases of Wade Financial Advisory and Planned Asset Management. Wade Financial, based in Campbell, California, manages over $700 million in assets and serves more than 250 households, primarily composed of technology entrepreneurs and professionals in the Silicon Valley area. Planned Asset Management, an independent advisory firm in Calabasas, California, manages more than $350 million in assets and serves a diverse client base, including small business owners and charitable trusts.

The acquisition of these firms is set to increase Modern Wealth's assets under management (AUM) to over $7 billion, supporting its strategic goals of growing its footprint and enhancing its service offerings.

Industry Overview in the Target’s Specific Country

The wealth management industry in the United States remains robust, showing resilience in the face of market volatility and economic challenges. As private equity continues to invest heavily in this sector, firms are finding new ways t