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FUNDRAISING NEWS | October 24, 2024

Modern Wealth Adds $1.4B Idaho RIA, Crosses $6B AUM

Tags: RIA, Mergers / Acquisitions

Lenexa, KS-based RIA Modern Wealth Management has acquired a 10-person independent advisory firm in Boise, ID, adding approximately $1.4B in client assets to its now over $6B in AUM.

Per a press release published October 24, Petso Financial Consultants, led by founder David Petso and President Jennifer Stone, will be Modern Wealth’s eleventh acquisition to date, representing its sixth in the current year. The team is composed of six advisors, an associate advisor, and three support staff.

Alaris Acquisitions served as an advisor on the transaction, for which financial terms and consideration were not disclosed. Following the acquisition, Modern Wealth now operates 18 offices across the Eastern, Midwest, Southern, and Pacific Northwest regions of the US, per its website. 

View the press release here. 

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