Modern Wealth Management came to play. After launching last spring as the brainchild of a trio of Goldman Sachs executives from United Capital—Gary Roth, Mike Capelle and Jason Gordo—the firm has rapidly grown to more than $3 billion in assets under management across 10 locations through a series of acquisitions, supported by $200 million in private equity capital.
This week, Modern Wealth announced that it has tapped another former Goldman executive to come in and enhance service capabilities in support of organic growth as national inorganic efforts continue.
Jason Del Col, who was head of advisory services for United Capital and Goldman Sachs (following its acquisition of United Capital) from 2008 until yesterday, has taken on the same role at Modern Wealth. In the newly created position, he will help build out a comprehensive advisory services platform that incorporates financial, retirement and tax planning, investment management and other tailored services.
Del Col will also manage growth strategy, work to attract more advisory talent and oversee centralized lead generation, distribution and onboarding functions. Prior to joining United Capital, Del Col was a member of the founding team at BNP Paribas Asset Management (formerly FundQuest), where he spent a decade providing direction on platforms and products for a variety of financial advisory channels.
“I’ve had the great privilege of calling Gary, Jason and Mike colleagues for many years. I’m energized by the opportunity to join forces once again to help steer the strategic direction of the firm, inclusive of our advisory services and organic growth strategy,” Del Col shared in a statement.
“We were looking for a proven leader with a strong track record in the industry–someone who can help to drive growth and enhancements for our offices nationwide,” added Roth, Modern Wealth’s co-founder and CEO. “Leveraging Jason’s industry expertise and execution ability in building wealth management platforms, including advisor teams and client bases, is critical to our growth initiatives.”
The announcement follows Modern Wealth’s sixth acquisition. Establishing the firm’s first office in New York, Beltz Ianni & Associates seeded an in-house retirement plan division and added $1.2 billion in assets, bringing the rapidly growing firm to more than $3 billion in just 12 months.
"We’re going to continue to build up talent and capacity in financial planning and tax planning, management and compliance work—actually signing 1040s for clients— as well as working very closely with the Beltz Ianni team, Michelle specifically, around corporate retirement plan build-up,” President Jason Gordo told WealthManagement.com last month. “Planners, CPAs and corporate retirement plan talent is what we’re seeking right now and we’re finding a tremendous amount of opportunity in the marketplace. “
The next few acquisitions will also be on the East Coast, according to Gordo, who added, “But we have a lot of activity and things we’ll be talking about on the West Coast soon.”
Modern Wealth Management is backed by Crestview Partners.
