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RIA Edge Podcast: Modern Wealth's Mike Capelle on Lessons Learned at United Capital, Goldman SachsRIA Edge Podcast: Modern Wealth's Mike Capelle on Lessons Learned at United Capital, Goldman Sachs
RIA executive Mike Capelle shares his vision for Modern Wealth Management to become a nationwide, “holistic” wealth management firm for the mass affluent.
March 26, 2024
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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:
LinkedIn: David Armstrong
Twitter/X: @djamesarmstrong
Connect With Mike Capelle:
LinkedIn: Mike Capelle
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.
