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An early architect of Joe Duran’s United Capital, and a former Goldman Sachs PFM executive, Mike Capelle and his partners secured $200 million to build a national RIA with a vision of bringing all a client’s planning needs—tax, insurance, estate planning—under one roof.
In this episode of the RIA Edge Podcast, David Armstrong, editorial director for Informa Connect’s Wealth Management Group, talks with Capelle, co-founder and co-CEO at Modern Wealth Management, about the firm’s goal to serve the mass affluent and the “millionaire-next-door” with a suite of holistic services, including financial planning, taxes, insurance and trusts.
Specifically, David and Mike discuss:
- What Modern Wealth’s trio of founders learned from helping grow United Capital to a $25 billion firm acquired by Goldman Sachs.
- The 2023 launch of the firm and how they rapidly identified and acquired the building blocks to set the stage for future growth.
- What pieces of the puzzle the firm’s principals are looking for now.
- Challenges in the RIA Industry when it comes to attracting talent, and why it is important to execute on an organic growth plan even amid a phase of rapid acquisition.
- The strategy behind acquiring a retirement plan advisory business.
- How acquired firms will adopt the Modern Wealth Management brand and platform while retaining key personnel as managing directors.
- A potential expansion of Modern Wealth Management’s offerings into banking services, focusing on lending and cash management through strategic partnerships.
Resources:
Connect With David Armstrong:
- WealthManagement.com
- LinkedIn: WealthManagment.com
- LinkedIn: David Armstrong
- Twitter/X: @djamesarmstrong
- LinkedIn: Informa
Connect With Mike Capelle:
- LinkedIn: Mike Capelle
- Modern Wealth Management
About Our Guest:
Mike Capelle is a co-founder and co-CEO at Modern Wealth Management. From his decades-long career in wealth management, Capelle has experience building advisor-client wealth management platforms to drive continuous growth. Prior to co-founding Modern Wealth, Capelle was a managing director at Goldman Sachs Personal Financial Management, where he was the Head of High-Net-Worth Product.
In addition, Capelle was part of the team that co-founded, scaled, and sold United Capital, a $25 billion RIA with 90 locations, to Goldman Sachs for $750 million, where he served as Chief Platform Officer. Capelle was responsible for the company’s operating platform and technology and for driving enterprise innovation. He was also a member of the firm’s Investment Committee.